PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in PDD Holdings Inc. (NASDAQ:PDD – Get Rating) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,040 shares of the company’s stock after selling 2,363 shares during the quarter. Intech Investment Management LLC’s holdings in PDD were worth $1,390,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors lifted its stake in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 331 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of PDD during the fourth quarter worth about $34,000. Hollencrest Capital Management acquired a new position in shares of PDD in the fourth quarter valued at approximately $41,000. Wahed Invest LLC purchased a new stake in PDD during the 1st quarter worth approximately $70,000. Finally, Advisor Group Holdings Inc. lifted its holdings in PDD by 100.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock worth $152,000 after buying an additional 1,872 shares in the last quarter. Hedge funds and other institutional investors own 24.24% of the company’s stock.

PDD Stock Performance

PDD opened at $60.53 on Friday. PDD Holdings Inc. has a one year low of $36.29 and a one year high of $106.38. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $71.23 and its 200-day simple moving average is $80.51.

PDD (NASDAQ:PDD – Get Rating) last issued its quarterly earnings data on Monday, March 20th. The company reported $8.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $7.34. PDD had a return on equity of 32.10% and a net margin of 23.93%. The company had revenue of $39.82 billion during the quarter, compared to analysts’ expectations of $40.74 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was up 46.2% on a year-over-year basis. Analysts forecast that PDD Holdings Inc. will post 3.33 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on PDD. Citigroup dropped their price target on shares of PDD from $115.00 to $100.00 in a research note on Tuesday, May 2nd. Morgan Stanley raised PDD from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $77.00 to $113.00 in a research report on Thursday, March 2nd. Bank of America cut their target price on shares of PDD from $108.00 to $95.00 in a research note on Tuesday, March 21st. Barclays lifted their price target on shares of PDD from $84.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 29th. Finally, The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $116.00 to $93.00 in a research report on Monday, April 24th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.89.

PDD Company Profile

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PDD Holdings, Inc is a multinational commerce group that owns and operates a portfolio of businesses. The company aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from increased productivity and new opportunities. It has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses.