PDD Holdings Inc. (NASDAQ:PDD) Stake Increased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC boosted its stake in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 23.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,725 shares of the company’s stock after buying an additional 696 shares during the quarter. Checchi Capital Advisers LLC’s holdings in PDD were worth $545,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PDD. SRS Capital Advisors Inc. boosted its holdings in PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Turim 21 Investimentos Ltda. acquired a new position in shares of PDD during the 3rd quarter valued at about $55,000. AJOVista LLC bought a new position in shares of PDD in the 4th quarter valued at approximately $103,000. Tennessee Valley Asset Management Partners acquired a new stake in PDD in the 4th quarter worth approximately $144,000. Finally, Shen Neil Nanpeng acquired a new stake in PDD in the 3rd quarter worth approximately $175,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PDD shares. Jefferies Financial Group boosted their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Citigroup boosted their target price on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Benchmark boosted their price objective on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Barclays raised their target price on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PDD has an average rating of “Moderate Buy” and a consensus price target of $146.85.

Read Our Latest Report on PDD

PDD Stock Performance

PDD opened at $140.52 on Tuesday. The stock has a market cap of $193.34 billion, a PE ratio of 24.52, a P/E/G ratio of 0.35 and a beta of 0.67. PDD Holdings Inc. has a 1 year low of $59.98 and a 1 year high of $152.99. The stock’s 50 day simple moving average is $122.86 and its 200-day simple moving average is $128.81. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDDGet Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. Sell-side analysts forecast that PDD Holdings Inc. will post 7.85 EPS 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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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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