Cerity Partners LLC Raises Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Cerity Partners LLC grew its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 32.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,314 shares of the company's stock after purchasing an additional 4,738 shares during the period. Cerity Partners LLC's holdings in PDD were worth $2,286,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in PDD in the 4th quarter worth approximately $3,114,000. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after buying an additional 132 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of PDD by 17.6% during the 4th quarter. Corient Private Wealth LLC now owns 8,304 shares of the company's stock valued at $805,000 after buying an additional 1,241 shares in the last quarter. Cibc World Markets Corp lifted its stake in shares of PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after buying an additional 164 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of PDD by 71.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 41,323 shares of the company's stock valued at $4,008,000 after buying an additional 17,286 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD opened at $109.00 on Friday. The stock has a market capitalization of $151.74 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.53 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $155.67. The stock has a fifty day moving average of $106.34 and a 200-day moving average of $109.00.

PDD (NASDAQ:PDD - Get Free Report) last announced its 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). The business had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. PDD's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $20.72 EPS. As a group, equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PDD shares. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and upped their target price for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Benchmark cut their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Jefferies Financial Group set a $121.00 price target on shares of PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and a consensus target price of $144.55.

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.

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