PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by PDS Planning Inc

PDS Planning Inc grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,328 shares of the company’s stock after purchasing an additional 116 shares during the quarter. PDS Planning Inc’s holdings in PDD were worth $341,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in shares of PDD by 11.3% in the 4th quarter. Lindbrook Capital LLC now owns 2,047 shares of the company’s stock valued at $299,000 after buying an additional 207 shares during the period. Calamos Wealth Management LLC acquired a new position in shares of PDD in the 4th quarter valued at about $580,000. abrdn plc boosted its holdings in shares of PDD by 4.5% in the 4th quarter. abrdn plc now owns 562,509 shares of the company’s stock valued at $82,301,000 after buying an additional 24,230 shares during the period. Ninety One UK Ltd acquired a new position in shares of PDD in the 4th quarter valued at about $235,666,000. Finally, Ninety One North America Inc. acquired a new position in shares of PDD in the 4th quarter valued at about $54,093,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Benchmark lifted their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group boosted their price target 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 boosted their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price on the stock. in a research report on Monday, March 11th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Stock Performance

PDD stock traded up $3.13 on Tuesday, hitting $127.27. The company’s stock had a trading volume of 9,894,689 shares, compared to its average volume of 8,357,979. The firm has a market cap of $167.94 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $122.17 and a 200-day moving average price of $126.24. PDD Holdings Inc. has a one year low of $59.67 and a one year high of $152.99.

PDD (NASDAQ:PDD) 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%. On average, equities analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

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.