Fisher Asset Management LLC Has $94.08 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Fisher Asset Management LLC increased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 13.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 697,867 shares of the company’s stock after purchasing an additional 84,901 shares during the quarter. Fisher Asset Management LLC owned approximately 0.05% of PDD worth $94,080,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in shares of PDD during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC acquired a new position in PDD during the third quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD during the second quarter worth $32,000. Richardson Financial Services Inc. lifted its stake in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD in the 3rd quarter valued at about $34,000. Institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PDD has been the topic of several research analyst reports. Bank of America dropped their price objective on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Sanford C. Bernstein decreased their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Benchmark dropped their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday. Barclays decreased their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Two equities 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 stock currently has an average rating of “Buy” and an average price target of $173.40.

PDD Price Performance

Shares of NASDAQ:PDD opened at $100.69 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $138.54 billion, a PE ratio of 9.83, a PEG ratio of 0.24 and a beta of 0.71. The firm has a 50 day moving average of $123.31 and a 200-day moving average of $129.39. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 46.08% and a net margin of 29.05%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The company’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 11.19 EPS for the current fiscal year.

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.