Wealth Enhancement Advisory Services LLC acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,782 shares of the company's stock, valued at approximately $1,631,000.
Several other hedge funds also recently modified their holdings of PDD. Global Retirement Partners LLC increased its holdings in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares in the last quarter. National Pension Service increased its holdings in shares of PDD by 0.5% during the fourth quarter. National Pension Service now owns 181,311 shares of the company's stock worth $17,585,000 after buying an additional 944 shares in the last quarter. New York Life Investment Management LLC grew its stake in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after purchasing an additional 139 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of PDD during the fourth quarter valued at approximately $421,000. Finally, US Bancorp DE grew its stake in shares of PDD by 14.2% during the fourth quarter. US Bancorp DE now owns 9,079 shares of the company's stock valued at $881,000 after purchasing an additional 1,127 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.
PDD Stock Down 0.6%
Shares of NASDAQ PDD opened at $105.14 on Monday. The company's fifty day moving average is $106.43 and its 200-day moving average is $108.46. The stock has a market cap of $146.37 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.47 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67.
PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. During the same period in the prior year, the business earned $20.72 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently commented on PDD shares. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Macquarie reaffirmed an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and raised their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Finally, Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and a consensus target price of $144.55.
Check Out Our Latest Research Report on PDD
PDD Profile
(
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.
Featured Articles
Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider PDD, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PDD wasn't on the list.
While PDD currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
