Triasima Portfolio Management inc. Buys 5,247 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Triasima Portfolio Management inc. lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,007 shares of the company’s stock after buying an additional 5,247 shares during the quarter. Triasima Portfolio Management inc.’s holdings in PDD were worth $2,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp grew its holdings in PDD by 12.8% during the fourth quarter. Truist Financial Corp now owns 3,143 shares of the company’s stock worth $460,000 after purchasing an additional 357 shares during the period. New York Life Investment Management LLC acquired a new position in shares of PDD during the 4th quarter worth approximately $259,000. Apollon Wealth Management LLC bought a new stake in PDD in the 4th quarter valued at $249,000. Principal Securities Inc. acquired a new stake in PDD during the 4th quarter valued at $184,000. Finally, AGF Management Ltd. lifted its holdings in PDD by 194.6% during the 4th quarter. AGF Management Ltd. now owns 13,910 shares of the company’s stock valued at $2,035,000 after purchasing an additional 9,189 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

PDD Price Performance

PDD stock traded up $0.62 during mid-day trading on Friday, reaching $93.30. The company had a trading volume of 9,550,178 shares, compared to its average volume of 9,699,370. The business has a fifty day simple moving average of $128.03 and a 200 day simple moving average of $130.52. The company has a market cap of $128.37 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.23 and a beta of 0.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

PDD (NASDAQ:PDD) last posted its earnings results on Monday, August 26th. The company reported $23.24 EPS 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 the consensus estimate of $100.17 billion. During the same period last year, the company earned $1.27 earnings per share. The business’s quarterly revenue was up 85.7% on a year-over-year basis. On average, equities research analysts predict that PDD Holdings Inc. will post 11.21 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on PDD shares. Sanford C. Bernstein cut their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Macquarie downgraded PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Finally, UBS Group raised their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Two equities research 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. According to data from MarketBeat, PDD presently has an average rating of “Buy” and a consensus price target of $177.78.

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.