Comgest Global Investors S.A.S. Purchases 18,408 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Comgest Global Investors S.A.S. increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 132.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,259 shares of the company’s stock after acquiring an additional 18,408 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in PDD were worth $4,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC grew its holdings in PDD by 6.0% during the first quarter. Bleakley Financial Group LLC now owns 4,969 shares of the company’s stock valued at $578,000 after purchasing an additional 283 shares during the period. Blair William & Co. IL lifted its position in shares of PDD by 34.6% in the first quarter. Blair William & Co. IL now owns 3,102 shares of the company’s stock valued at $361,000 after acquiring an additional 798 shares in the last quarter. Banco Santander S.A. purchased a new position in shares of PDD in the first quarter valued at about $558,000. Jupiter Asset Management Ltd. lifted its position in shares of PDD by 122.9% in the first quarter. Jupiter Asset Management Ltd. now owns 141,064 shares of the company’s stock valued at $16,399,000 after acquiring an additional 77,781 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after acquiring an additional 97,648 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

PDD Trading Up 1.5 %

PDD stock traded up $1.67 during midday trading on Friday, reaching $114.00. 8,874,029 shares of the company traded hands, compared to its average volume of 10,573,298. 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. The business has a 50 day moving average of $121.59 and a 200-day moving average of $130.53. The firm has a market capitalization of $156.85 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 0.27 and a beta of 0.71.

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

Analysts Set New Price Targets

PDD has been the topic of several research analyst reports. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Barclays lowered their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Benchmark lowered their price objective 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 lowered their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. One investment 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 company’s stock. Based on data from MarketBeat.com, PDD has an average rating of “Buy” and an average price target 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.