Tennessee Valley Asset Management Partners Invests $144,000 in PDD Holdings Inc. (NASDAQ:PDD)

Tennessee Valley Asset Management Partners purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 983 shares of the company’s stock, valued at approximately $144,000.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after acquiring an additional 140 shares during the period. AE Wealth Management LLC purchased a new position in shares of PDD in the third quarter valued at $542,000. Onyx Bridge Wealth Group LLC acquired a new stake in PDD during the 3rd quarter valued at $410,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new stake in PDD during the 3rd quarter worth $11,768,000. Finally, PDS Planning Inc acquired a new position in PDD in the 3rd quarter worth $217,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PDD. Citigroup lifted their target price on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group lifted their price objective on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Benchmark upped their target price on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. decreased their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a research note on Monday, March 11th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Trading Up 9.4 %

PDD stock opened at $124.14 on Tuesday. 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 Holdings Inc. has a 1 year low of $59.67 and a 1 year high of $152.99. The firm’s 50-day moving average is $122.17 and its 200-day moving average is $126.24. The company has a market cap of $163.81 billion, a P/E ratio of 21.66, a PEG ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last issued its earnings results 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. The firm had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. On average, equities analysts expect that PDD Holdings Inc. will post 7.85 earnings per share 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.