Peoples Bank KS invested $67,000 in PDD Holdings Inc. (NASDAQ:PDD)

Peoples Bank KS purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 500 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC boosted its holdings in shares of PDD by 149.0% in the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after purchasing an additional 177,600 shares in the last quarter. Hhlr Advisors LTD. raised its holdings in PDD by 37.5% in the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. grew its position in PDD by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after acquiring an additional 62,312 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of 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 acquiring an additional 89,853 shares during the last quarter. Finally, Connectus Wealth LLC lifted its position in shares of PDD by 9.4% during the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after buying an additional 590 shares in the last quarter. Institutional investors own 29.07% of the company’s shares.

Changes in Analyst Ratings

PDD has been the subject of a number of research reports. Barclays reduced their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and cut their price target for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Sanford C. Bernstein cut their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Benchmark cut their price target on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. PDD currently has a consensus rating of “Buy” and an average target price of $177.78, according to MarketBeat.com.

Get our latest analysis on PDD

PDD Stock 1.1%

NASDAQ PDD traded up $1.65 during trading hours on Friday, hitting $154.27. 21,059,683 shares of the company traded hands, compared to its average volume of 10,596,437. 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 company’s 50-day moving average is $119.59, and its 200-day moving average is $129.20. The stock has a market cap of $212.26 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 0.33 and a beta of 0.69. PDD Holdings Inc. it has a 12-month low of $88.01 and a 12-month high of $164.69.

PDD (NASDAQ:PDD – Get Your Free Report ) last posted 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 company had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 EPS. Sell-side analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

PDD Company Profile

(Free report)

PDD Holdings Inc, a multinational trading group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products from various categories including agricultural products, apparel, shoes, bags, mother and baby care products, food and beverages, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness products and car accessories; and Temu, an online marketplace.

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