PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. reduced its position in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 15.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 909,900 shares of the company’s stock after selling 170,300 shares during the quarter. 1832 Asset Management L.P.’s holdings in PDD were worth $133,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PDD. SRS Capital Advisors Inc. lifted its position in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after acquiring an additional 101 shares in the last quarter. Turim 21 Investimentos Ltda. acquired a new position in PDD during the 3rd quarter worth approximately $55,000. AJOVista LLC acquired a new position in PDD during the 4th quarter worth approximately $103,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in PDD during the 4th quarter worth approximately $144,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on PDD. UBS Group boosted their price target on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Barclays upped their target price on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. JPMorgan Chase & Co. cut their target price on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Finally, Bank of America upped their target price on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $188.33.

View Our Latest Stock Report on PDD

PDD Stock Performance

Shares of NASDAQ PDD traded down $3.08 during trading on Wednesday, reaching $142.80. The stock had a trading volume of 10,816,333 shares, compared to its average volume of 9,081,371. The stock has a market cap of $196.47 billion, a PE ratio of 18.91, a P/E/G ratio of 0.26 and a beta of 0.64. The firm’s 50 day moving average price is $132.44 and its two-hundred day moving average price is $133.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. PDD Holdings Inc. has a one year low of $66.40 and a one year high of $164.69.

PDD (NASDAQ:PDDGet Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. On average, research analysts forecast that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal 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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