Virtu Financial LLC Purchases 41,781 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Virtu Financial LLC increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 252.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,335 shares of the company’s stock after purchasing an additional 41,781 shares during the period. PDD comprises about 0.5% of Virtu Financial LLC’s investment portfolio, making the stock its 20th largest position. Virtu Financial LLC’s holdings in PDD were worth $7,756,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PDD. Renaissance Technologies LLC bought a new position in PDD during the second quarter worth about $176,332,000. AlpInvest Partners B.V. boosted its stake in shares of PDD by 195.2% in the 2nd quarter. AlpInvest Partners B.V. now owns 362,006 shares of the company’s stock valued at $48,129,000 after purchasing an additional 239,390 shares in the last quarter. Sierra Summit Advisors LLC bought a new stake in shares of PDD in the 2nd quarter worth about $3,097,000. Dimensional Fund Advisors LP increased its position in shares of PDD by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,317,795 shares of the company’s stock worth $308,190,000 after purchasing an additional 190,199 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of PDD by 22.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 409,668 shares of the company’s stock worth $54,465,000 after buying an additional 76,380 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the topic of a number of research analyst reports. Sanford C. Bernstein decreased their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Macquarie cut PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Jefferies Financial Group decreased their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Benchmark lowered their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $177.78.

PDD Price Performance

PDD opened at $97.20 on Tuesday. The company has a fifty day moving average price of $123.19 and a two-hundred day moving average price of $129.17. The firm has a market capitalization of $133.73 billion, a PE ratio of 12.87, a P/E/G ratio of 0.24 and a beta of 0.69. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. 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 (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 earnings per share. As a group, analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

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.