11,447 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by Capital Wealth Planning LLC

Capital Wealth Planning LLC purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,447 shares of the company's stock, valued at approximately $1,675,000.

A number of other institutional investors also recently modified their holdings of PDD. SRS Capital Advisors Inc. increased its position in shares of PDD by 294.4% during the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company's stock valued at $27,000 after buying an additional 209 shares during the period. Turim 21 Investimentos Ltda. purchased a new stake in PDD in the 3rd quarter worth approximately $55,000. AJOVista LLC bought a new position in PDD in the 4th quarter valued at $103,000. Tennessee Valley Asset Management Partners purchased a new position in shares of PDD during the 4th quarter valued at $144,000. Finally, Shen Neil Nanpeng bought a new position in shares of PDD in the third quarter worth $175,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PDD has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, March 21st. Benchmark raised their target price on shares of PDD from $215.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Citigroup boosted their price target on shares of PDD from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, March 21st. Barclays increased their price target on shares of PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group lifted their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. One equities research 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, the company has a consensus rating of "Moderate Buy" and an average price target of $146.85.

PDD Trading Up 1.5 %

PDD traded up $2.08 during trading on Thursday, hitting $143.38. 9,867,650 shares of the stock traded hands, compared to its average volume of 8,379,728. The firm has a 50-day moving average of $124.06 and a 200 day moving average of $129.34. PDD Holdings Inc. has a 12-month low of $59.98 and a 12-month high of $152.99. The firm has a market capitalization of $197.27 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 0.36 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.93.

PDD (NASDAQ:PDD - Get Free Report) last posted its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (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 analysts' expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. Equities research analysts anticipate that PDD Holdings Inc. will post 7.85 EPS 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.