Great Valley Advisor Group Inc. lessened its stake in PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 27.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,685 shares of the company’s stock after selling 634 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in PDD were worth $227,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC acquired a new stake in PDD in the third quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD in the second quarter worth approximately $32,000. Richardson Financial Services Inc. increased its stake in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.
Wall Street Analysts Forecast Growth
PDD has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Citigroup lowered 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 report on Tuesday, August 27th. Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.40.
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PDD Stock Performance
NASDAQ:PDD opened at $98.80 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s 50-day moving average is $123.34 and its 200-day moving average is $128.92. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a market cap of $135.94 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.26 and a beta of 0.71.
PDD (NASDAQ:PDD – Get Free Report) last posted its quarterly earnings results 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 analysts’ expectations of $100.17 billion. PDD had a return on equity of 46.08% and a net margin of 29.05%. The company’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 EPS. Equities research analysts anticipate that PDD Holdings Inc. will post 11.19 earnings per share for the current year.
About PDD
(Free Report)
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.
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