Grand Alliance Asset Management Ltd Invests $2.36 Million in PDD Holdings Inc. (NASDAQ:PDD)

Grand Alliance Asset Management Ltd bought a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 16,150 shares of the company's stock, valued at approximately $2,363,000. PDD accounts for about 1.3% of Grand Alliance Asset Management Ltd's investment portfolio, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of PDD. SRS Capital Advisors Inc. raised its position in shares of PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company's stock valued at $27,000 after purchasing an additional 209 shares during the period. Turim 21 Investimentos Ltda. purchased a new position in shares of PDD in the third quarter valued at about $55,000. AJOVista LLC bought a new position in shares of PDD in the fourth quarter worth about $103,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of PDD during the fourth quarter worth about $144,000. Finally, Principal Securities Inc. bought a new stake in PDD during the 4th quarter valued at approximately $184,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PDD. Jefferies Financial Group lifted their price target on shares of PDD from $157.00 to $161.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Citigroup increased their price target on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on PDD from $195.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a "buy" rating to a "neutral" rating and set a $136.00 target price for the company. in a research report on Monday, March 11th. Finally, Benchmark boosted their price target on shares of PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.85.

PDD Trading Down 0.1 %

Shares of NASDAQ PDD traded down $0.11 during midday trading on Friday, hitting $136.27. The company's stock had a trading volume of 4,231,146 shares, compared to its average volume of 8,689,254. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $122.86 and its two-hundred day moving average is $128.52. PDD Holdings Inc. has a 12-month low of $59.98 and a 12-month high of $152.99. The firm has a market cap of $179.82 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 0.35 and a beta of 0.67.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. As a group, equities research analysts expect that PDD Holdings Inc. will post 7.85 EPS 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.