Charles Schwab Investment Management Inc. Grows Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Charles Schwab Investment Management Inc. grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 904,016 shares of the company’s stock after buying an additional 22,319 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PDD were worth $121,870,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new position in PDD during the third quarter valued at approximately $27,000. Venturi Wealth Management LLC purchased a new stake in shares of PDD in the 3rd quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD during the 2nd quarter valued at $32,000. Richardson Financial Services Inc. raised its position in PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in PDD in the third quarter worth $34,000. 29.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PDD. Nomura Securities raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Jefferies Financial Group reduced their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Daiwa America upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Barclays cut 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. Finally, Benchmark lowered their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $173.40.

PDD Stock Up 0.6 %

Shares of PDD stock opened at $100.69 on Tuesday. The company’s fifty day simple moving average is $123.31 and its two-hundred day simple moving average is $129.39. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. 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 company has a market cap of $138.54 billion, a P/E ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71.

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, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the prior year, the firm earned $1.27 earnings per share. PDD’s revenue was up 85.7% on a year-over-year basis. Research analysts anticipate 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.