Massachusetts Financial Services Co. MA Has $90.27 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Massachusetts Financial Services Co. MA boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 63.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,605 shares of the company’s stock after buying an additional 259,937 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PDD were worth $90,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PDD. Prospera Private Wealth LLC acquired a new position in shares of PDD in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new stake in PDD in the third quarter valued at $29,000. Ashton Thomas Private Wealth LLC acquired a new position in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. lifted its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of PDD in the 3rd quarter valued at $34,000. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $100.07 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The stock has a market cap of $137.68 billion, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 0.25 and a beta of 0.71. The stock’s 50-day moving average price is $123.24 and its two-hundred day moving average price is $129.71. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

PDD (NASDAQ:PDD) last issued its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 49.53%. The business’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. On average, equities analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PDD shares. Bank of America dropped their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and increased their price target for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Finally, Barclays dropped their target price on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $173.40.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.