BNP Paribas Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

BNP Paribas acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,500 shares of the company’s stock, valued at approximately $475,000.

Other institutional investors have also modified their holdings of the company. TB Alternative Assets Ltd. increased its position in shares of PDD by 33.7% during the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after purchasing an additional 43,648 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of PDD by 13.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after purchasing an additional 27,567 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares during the last quarter. BOCHK Asset Management Ltd increased its position in shares of PDD by 3,391.7% during the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after purchasing an additional 40,700 shares during the last quarter. Finally, M&G PLC increased its position in shares of PDD by 14.2% during the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock worth $33,401,000 after purchasing an additional 30,817 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America lowered their price target on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Sanford C. Bernstein decreased their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Finally, Nomura Securities raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Performance

PDD opened at $98.80 on Thursday. The business has a fifty day simple moving average of $123.34 and a 200 day simple moving average of $128.92. The company has a market capitalization of $135.94 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.26 and a beta of 0.71. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 EPS. Research analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current 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.