Parallel Advisors LLC Has $270,000 Stake in PDD Holdings Inc. (NASDAQ:PDD)

Parallel Advisors LLC trimmed its stake in shares of PDD Holdings Inc. (NASDAQ:PDDFree Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,846 shares of the company’s stock after selling 94 shares during the period. Parallel Advisors LLC’s holdings in PDD were worth $270,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. SRS Capital Advisors Inc. lifted its holdings in PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after buying an additional 209 shares during the period. Turim 21 Investimentos Ltda. acquired a new position in PDD in the third quarter valued at approximately $55,000. EverSource Wealth Advisors LLC lifted its holdings in PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares during the period. AJOVista LLC acquired a new position in PDD in the fourth quarter valued at approximately $103,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in PDD in the fourth quarter valued at approximately $144,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup increased their price objective on shares of PDD from $185.00 to $198.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Jefferies Financial Group upped their target price on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Bank of America upped their target price on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Benchmark upped their target price on shares of PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, PDD currently has an average rating of “Buy” and an average price target of $188.33.

View Our Latest Analysis on PDD

PDD Stock Down 1.5 %

Shares of PDD stock opened at $149.78 on Monday. The company has a market capitalization of $206.08 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 0.27 and a beta of 0.64. PDD Holdings Inc. has a 12-month low of $62.53 and a 12-month high of $164.69. The firm has a fifty day moving average of $130.86 and a 200-day moving average of $133.11. 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:PDDGet Free Report) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The business had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. As a group, equities research analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

About PDD

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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