Atomi Financial Group Inc. Sells 128 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Atomi Financial Group Inc. reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.1% in the first quarter, Holdings Channel reports. The fund owned 11,188 shares of the company’s stock after selling 128 shares during the quarter. Atomi Financial Group Inc.’s holdings in PDD were worth $1,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PDD. Triasima Portfolio Management inc. purchased a new stake in PDD in the 4th quarter worth approximately $1,813,000. Los Angeles Capital Management LLC lifted its stake in PDD by 149.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after purchasing an additional 177,600 shares in the last quarter. Hhlr Advisors LTD. lifted its stake in PDD by 37.5% in the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. lifted its stake in PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after purchasing an additional 6,637,418 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in PDD in the 4th quarter worth approximately $13,379,000. 29.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PDD. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Citigroup increased their target price on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Bank of America raised their price target on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Benchmark raised their price target on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Sanford C. Bernstein raised their price target on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $188.33.

PDD Stock Down 2.4 %

Shares of NASDAQ PDD traded down $3.37 during midday trading on Monday, hitting $139.05. The stock had a trading volume of 5,439,363 shares, compared to its average volume of 8,669,704. The business’s 50 day moving average is $143.16 and its 200-day moving average is $134.03. The company has a market cap of $191.31 billion, a P/E ratio of 18.18, a PEG ratio of 0.25 and a beta of 0.63. PDD Holdings Inc. has a 52 week low of $74.48 and a 52 week high of $164.69. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. As a group, analysts predict that PDD Holdings Inc. will post 11.41 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.