PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

by · The Cerbat Gem

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 1,374.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,145,211 shares of the company’s stock after purchasing an additional 12,253,589 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.96% of PDD worth $1,772,106,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased 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 valued at $4,868,859,000 after acquiring an additional 988,042 shares in the last quarter. FMR LLC grew its position in shares of PDD by 8.6% in the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of PDD by 16.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,913,780 shares of the company’s stock worth $786,237,000 after purchasing an additional 826,525 shares in the last quarter. Tairen Capital Ltd increased its stake 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 purchasing an additional 1,788,076 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of 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 purchasing an additional 612,119 shares during the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PDD shares. Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Barclays reduced their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

View Our Latest Stock Report on PDD

PDD Price Performance

PDD stock opened at $98.80 on Thursday. The company has a market cap 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. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $123.34 and a two-hundred day moving average price of $128.92. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69.

PDD (NASDAQ:PDD – Get Free Report) last issued its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The company’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. As a group, research analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current year.

PDD Company Profile

(Free Report)

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.

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