PFG Investments LLC Acquires New Holdings in PDD Holdings Inc. (NASDAQ:PDD)

PFG Investments LLC acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 5,201 shares of the company’s stock, valued at approximately $605,000.

A number of other large investors have also recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of PDD by 22.7% during the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after purchasing an additional 140 shares during the last quarter. AE Wealth Management LLC acquired a new stake in shares of PDD during the 3rd quarter worth about $542,000. PDS Planning Inc acquired a new stake in shares of PDD during the 3rd quarter worth about $217,000. Compagnie Lombard Odier SCmA boosted its stake in shares of PDD by 15,437.6% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 85,457 shares of the company’s stock worth $8,381,000 after purchasing an additional 84,907 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its stake in shares of PDD by 23.0% during the 3rd quarter. Cigna Investments Inc. New now owns 11,903 shares of the company’s stock worth $1,167,000 after purchasing an additional 2,224 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

PDD stock traded down $2.49 during mid-day trading on Monday, reaching $126.82. The company’s stock had a trading volume of 7,215,909 shares, compared to its average volume of 8,408,873. The firm has a market cap of $167.35 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 0.33 and a beta of 0.67. The business has a 50 day moving average price of $121.58 and a 200-day moving average price of $126.93. 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 Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99.

PDD (NASDAQ:PDD) last released 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. PDD had a net margin of 24.23% and a return on equity of 39.10%. The firm had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. Sell-side analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PDD. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a research note on Monday, March 11th. Citigroup raised 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. decreased their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group raised their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Barclays raised their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.85.

PDD 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.