Stratos Wealth Partners LTD. Acquires Shares of 1,752 PDD Holdings Inc. (NASDAQ:PDD)

Stratos Wealth Partners LTD. acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,752 shares of the company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of PDD by 136.0% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company’s stock worth $10,857,000 after purchasing an additional 148,166 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of PDD by 100.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock worth $152,000 after purchasing an additional 1,872 shares during the period. Raymond James & Associates increased its stake in shares of PDD by 16.1% during the first quarter. Raymond James & Associates now owns 16,641 shares of the company’s stock worth $667,000 after purchasing an additional 2,304 shares during the period. American Century Companies Inc. increased its stake in shares of PDD by 30.7% during the first quarter. American Century Companies Inc. now owns 28,785 shares of the company’s stock worth $1,155,000 after purchasing an additional 6,766 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of PDD by 16.5% during the first quarter. Panagora Asset Management Inc. now owns 40,548 shares of the company’s stock worth $1,626,000 after purchasing an additional 5,744 shares during the period. Institutional investors own 29.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PDD. Barclays increased their target price on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Jefferies Financial Group increased their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. reduced their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Benchmark increased their price target on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Citigroup increased their price target on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and an average price target of $146.85.

PDD Trading Down 1.0 %

Shares of PDD stock opened at $114.29 on Tuesday. The firm has a market capitalization of $150.82 billion, a P/E ratio of 19.95, a P/E/G ratio of 0.30 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 quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $123.40 and its 200 day simple moving average is $125.63.

PDD (NASDAQ:PDD) last issued its quarterly earnings data 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 business had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, sell-side analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

PDD Company 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.