Raymond James & Associates Buys 5,626 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Raymond James & Associates increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 64.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,362 shares of the company’s stock after purchasing an additional 5,626 shares during the quarter. Raymond James & Associates’ holdings in PDD were worth $2,101,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PDD. SC US Ttgp LTD. lifted its position in shares of PDD by 1,414.4% during the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after buying an additional 45,048,300 shares during the last quarter. Vanguard Group Inc. raised its stake in PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares in the last quarter. Norges Bank bought a new position in shares of PDD in the fourth quarter worth about $501,089,000. Baillie Gifford & Co. boosted its stake in shares of PDD by 14.4% in the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock valued at $3,497,977,000 after purchasing an additional 4,501,126 shares in the last quarter. Finally, FMR LLC increased its position in PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after purchasing an additional 4,334,186 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PDD shares. JPMorgan Chase & Co. cut their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Benchmark boosted their price objective on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Barclays increased their target price on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Jefferies Financial Group increased 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. Finally, Citigroup increased their target price on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PDD currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Price Performance

Shares of PDD opened at $113.52 on Wednesday. PDD Holdings Inc. has a 1 year low of $59.67 and a 1 year high of $152.99. 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 company has a market capitalization of $149.80 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 0.30 and a beta of 0.67. The business has a 50-day moving average of $123.16 and a 200-day moving average of $125.74.

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