AlpInvest Partners B.V. Sells 183,938 Shares of PDD Holdings Inc. (NASDAQ:PDD)

AlpInvest Partners B.V. lessened its stake in PDD Holdings Inc. (NASDAQ:PDD) by 50.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,068 shares of the company’s stock after selling 183,938 shares during the quarter. PDD comprises approximately 14.2% of AlpInvest Partners B.V.’s investment portfolio, making the stock its 4th biggest holding. AlpInvest Partners B.V.’s holdings in PDD were worth $24,005,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. raised its holdings in PDD by 2.8% during the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock worth $4,868,859,000 after purchasing an additional 988,042 shares during the last quarter. Hhlr Advisors LTD. grew its stake in shares of PDD by 16.6% during the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock worth $1,370,767,000 after purchasing an additional 1,680,600 shares during the period. Assenagon Asset Management S.A. lifted its stake in PDD by 16.2% in the second quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock valued at $786,237,000 after buying an additional 826,525 shares during the period. Tairen Capital Ltd grew its position in shares of PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares during the period. Finally, Legal & General Group Plc boosted its stake in PDD by 13.0% during the 2nd quarter. Legal & General Group Plc now owns 5,332,414 shares of the company’s stock worth $708,944,000 after acquiring an additional 612,119 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

PDD Stock Performance

PDD traded down $1.50 during trading on Wednesday, hitting $116.18. The stock had a trading volume of 1,195,220 shares, compared to its average volume of 10,512,322. The company has a 50 day moving average price of $122.58 and a 200-day moving average price of $130.31. The firm has a market cap of $159.85 billion, a price-to-earnings ratio of 12.68, a P/E/G ratio of 0.27 and a beta of 0.71. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick 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 for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the previous year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 85.7% compared to the same quarter last year. As a group, research analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current year.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent analyst reports. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Nomura Securities raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Sanford C. Bernstein dropped their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group cut their price objective on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Finally, Citigroup cut PDD from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $182.40.

PDD 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.