Wealth Alliance Takes $209,000 Position in PDD Holdings Inc. (NASDAQ:PDD)

Wealth Alliance bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,427 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. grew its position in shares of PDD by 2.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after acquiring an additional 66 shares during the period. Mariner LLC boosted its holdings in PDD by 1.4% in the 4th quarter. Mariner LLC now owns 9,607 shares of the company’s stock worth $783,000 after buying an additional 133 shares during the period. CWM LLC boosted its holdings in PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after buying an additional 140 shares during the period. Cerity Partners LLC boosted its holdings in PDD by 3.2% in the 4th quarter. Cerity Partners LLC now owns 4,912 shares of the company’s stock worth $401,000 after buying an additional 152 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in PDD by 3.6% in the 1st quarter. Bleakley Financial Group LLC now owns 4,640 shares of the company’s stock worth $352,000 after buying an additional 160 shares during the period. 29.07% of the stock is owned by institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $113.49 on Friday. The company’s 50 day simple moving average is $122.31 and its two-hundred day simple moving average is $125.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. The stock has a market capitalization of $149.76 billion, a PE ratio of 19.81, a P/E/G ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 1 year low of $59.67 and a 1 year high of $152.99.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share 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 analysts’ expectations of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. Analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PDD has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group raised 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. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a report on Monday, March 11th. Barclays raised their price objective 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, Citigroup raised their price objective on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.85.

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.