Freemont Capital Pte Ltd Buys 5,000 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Freemont Capital Pte Ltd grew its position in PDD Holdings Inc. (NASDAQ:PDD) by 23.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,000 shares of the company’s stock after buying an additional 5,000 shares during the period. PDD accounts for approximately 16.3% of Freemont Capital Pte Ltd’s investment portfolio, making the stock its 3rd largest position. Freemont Capital Pte Ltd’s holdings in PDD were worth $3,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDD. Blair William & Co. IL boosted its position in shares of PDD by 34.6% during the first quarter. Blair William & Co. IL now owns 3,102 shares of the company’s stock worth $361,000 after buying an additional 798 shares during the period. Banco Santander S.A. purchased a new position in PDD during the 1st quarter valued at about $558,000. Vanguard Group Inc. grew its position in PDD by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after acquiring an additional 97,648 shares in the last quarter. Edgestream Partners L.P. increased its stake in PDD by 50.8% during the first quarter. Edgestream Partners L.P. now owns 6,276 shares of the company’s stock worth $730,000 after purchasing an additional 2,113 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of PDD by 19.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 45,342 shares of the company’s stock worth $5,271,000 after purchasing an additional 7,337 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

PDD has been the subject of a number of research reports. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Sanford C. Bernstein dropped their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Barclays reduced their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Jefferies Financial Group cut their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Buy” and an average price target of $182.40.

PDD Trading Up 1.5 %

NASDAQ:PDD opened at $114.00 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a market cap of $156.85 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 0.71. The stock has a 50-day simple moving average of $121.59 and a 200-day simple moving average of $130.57.

PDD (NASDAQ:PDD) last announced its quarterly 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 company had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm’s revenue was up 85.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share. As a group, analysts anticipate that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

PDD Company Profile

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.