STF Management LP Sells 508 Shares of PDD Holdings Inc. (NASDAQ:PDD)

STF Management LP lowered its stake in PDD Holdings Inc. (NASDAQ:PDD) by 4.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,634 shares of the company’s stock after selling 508 shares during the period. STF Management LP’s holdings in PDD were worth $1,414,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its holdings in PDD by 1.0% in the 2nd quarter. Baillie Gifford & Co. now owns 35,128,410 shares of the company’s stock worth $4,670,322,000 after purchasing an additional 348,130 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock worth $2,820,408,000 after buying an additional 97,648 shares during the last quarter. Hhlr Advisors LTD. boosted its holdings in shares of PDD by 16.6% during the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after buying an additional 1,680,600 shares during the period. Norges Bank acquired a new position in PDD in the 4th quarter valued at $1,075,172,000. Finally, Assenagon Asset Management S.A. raised its holdings in PDD by 16.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after acquiring an additional 826,525 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Trading Down 2.4 %

Shares of PDD stock opened at $94.99 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a fifty day moving average of $123.94 and a 200-day moving average of $129.36. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock has a market cap of $130.69 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.23 and a beta of 0.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter last year, the company earned $1.27 earnings per share. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. On average, equities research analysts forecast that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PDD shares. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and lowered their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Benchmark lowered their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Nomura Securities raised shares of PDD to a “strong-buy” rating 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. According to MarketBeat, PDD currently has an average rating of “Buy” and an average price target of $177.78.

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.