Krane Funds Advisors LLC Acquires 201,437 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Krane Funds Advisors LLC boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 6.1% in the second quarter, HoldingsChannel.com reports. The firm owned 3,496,056 shares of the company’s stock after buying an additional 201,437 shares during the period. PDD accounts for about 19.6% of Krane Funds Advisors LLC’s investment portfolio, making the stock its largest holding. Krane Funds Advisors LLC’s holdings in PDD were worth $464,801,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC raised its position in shares of PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after acquiring an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. increased its position in shares of PDD by 37.5% during the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after buying an additional 2,760,100 shares during the period. Vanguard Group Inc. raised its stake in PDD by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after buying an additional 62,312 shares during the last quarter. Truist Financial Corp raised its stake 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 buying an additional 357 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in PDD by 63.7% in the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after buying an additional 89,853 shares during the period. 29.07% of the stock is owned by institutional investors.

PDD Price Performance

Shares of NASDAQ PDD opened at $94.99 on Friday. The stock has a market cap of $130.69 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.23 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm’s 50-day simple moving average is $123.94 and its 200 day simple moving average is $129.32.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 48.14% and a net margin of 28.92%. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 earnings per share. As a group, research analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PDD. Jefferies Financial Group lowered their price objective on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Bank of America cut their price target on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Finally, Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $177.78.

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.