Greenleaf Trust Trims Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Greenleaf Trust reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,988 shares of the company’s stock after selling 115 shares during the period. Greenleaf Trust’s holdings in PDD were worth $291,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PDD. CWM LLC raised its stake in PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after purchasing an additional 140 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of PDD in the third quarter valued at approximately $542,000. PDS Planning Inc purchased a new stake in PDD in the 3rd quarter worth approximately $217,000. Compagnie Lombard Odier SCmA grew its position in shares of PDD by 15,437.6% in the third quarter. Compagnie Lombard Odier SCmA now owns 85,457 shares of the company’s stock valued at $8,381,000 after purchasing an additional 84,907 shares during the period. Finally, Cigna Investments Inc. New increased its stake in PDD by 23.0% in the third quarter. Cigna Investments Inc. New now owns 11,903 shares of the company’s stock valued at $1,167,000 after purchasing an additional 2,224 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 0.4 %

PDD stock opened at $127.55 on Thursday. The firm’s 50 day moving average price is $122.06 and its two-hundred day moving average price is $126.40. The firm has a market cap of $168.31 billion, a PE ratio of 22.26, a P/E/G ratio of 0.33 and a beta of 0.67. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, research analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PDD shares. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price on the stock. in a research report on Monday, March 11th. JPMorgan Chase & Co. dropped their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Citigroup upped their target price on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Benchmark boosted their price target on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group raised their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.