Vaughan Nelson Investment Management L.P. Increases Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Vaughan Nelson Investment Management L.P. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 84.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,435 shares of the company’s stock after buying an additional 10,280 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in PDD were worth $3,024,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TB Alternative Assets Ltd. boosted its position in shares of PDD by 33.7% during the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after buying an additional 43,648 shares during the last quarter. Vontobel Holding Ltd. boosted its position in PDD by 13.3% in the third 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. boosted its position in PDD by 63.7% in the second 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 boosted its position in PDD by 3,391.7% in the third 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 boosted its position in PDD by 14.2% in the third 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. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Up 1.5 %

PDD stock opened at $114.00 on Monday. The firm’s fifty day moving average is $121.59 and its 200 day moving average is $130.61. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The firm has a market cap of $156.85 billion, a PE ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 0.71. 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 (NASDAQ:PDD) last announced its quarterly earnings data 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. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same quarter in the prior year, the company earned $1.27 EPS. PDD’s revenue was up 85.7% compared to the same quarter last year. On average, research analysts forecast that PDD Holdings Inc. will post 11.19 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PDD. Sanford C. Bernstein cut their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Jefferies Financial Group reduced their price objective on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Benchmark cut their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $182.40.

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.