Eos Management L.P. Sells 2,058 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Eos Management L.P. trimmed its position in PDD Holdings Inc. (NASDAQ:PDD) by 27.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,507 shares of the company’s stock after selling 2,058 shares during the period. Eos Management L.P.’s holdings in PDD were worth $742,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ballentine Partners LLC increased its position in shares of PDD by 4.6% in the second quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after purchasing an additional 120 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after buying an additional 122 shares during the last quarter. Legacy Capital Group California Inc. raised its position in shares of PDD by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after buying an additional 133 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of PDD by 1.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,010 shares of the company’s stock worth $1,629,000 after acquiring an additional 168 shares during the last quarter. Finally, CWM LLC grew its position in PDD by 19.3% in the third quarter. CWM LLC now owns 1,046 shares of the company’s stock worth $141,000 after acquiring an additional 169 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Down 6.4 %

NASDAQ:PDD opened at $117.81 on Friday. The firm has a market capitalization of $162.09 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.29 and a beta of 0.71. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $119.63 and a 200 day moving average of $131.00.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The company’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share. On average, research analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PDD shares. Benchmark lowered their price target on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Sanford C. Bernstein dropped their target price on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Barclays cut their target price on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Bank of America decreased their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and cut their price objective for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $182.40.

About PDD

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.