Daiwa Securities Group Inc. Sells 127 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Daiwa Securities Group Inc. cut its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 46,803 shares of the company’s stock after selling 127 shares during the period. Daiwa Securities Group Inc.’s holdings in PDD were worth $6,848,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PDD. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of PDD by 136.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company’s stock worth $10,857,000 after purchasing an additional 148,166 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in PDD by 100.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock worth $152,000 after buying an additional 1,872 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of PDD by 16.1% during the 1st quarter. Raymond James & Associates now owns 16,641 shares of the company’s stock valued at $667,000 after purchasing an additional 2,304 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of PDD by 30.7% during the 1st quarter. American Century Companies Inc. now owns 28,785 shares of the company’s stock valued at $1,155,000 after purchasing an additional 6,766 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of PDD by 16.5% during the 1st quarter. Panagora Asset Management Inc. now owns 40,548 shares of the company’s stock valued at $1,626,000 after purchasing an additional 5,744 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group increased their price objective 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. 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. Benchmark lifted their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Citigroup lifted their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Trading Up 0.2 %

NASDAQ:PDD opened at $113.70 on Friday. PDD Holdings Inc. has a 12 month low of $59.67 and a 12 month high of $152.99. The firm has a fifty day simple moving average of $122.59 and a 200-day simple moving average of $125.57. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $150.04 billion, a P/E ratio of 19.84, a PEG ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The firm had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. On average, equities research analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

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.