4,890 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by Seven Eight Capital LP

Seven Eight Capital LP purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDDFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,890 shares of the company’s stock, valued at approximately $715,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its position in PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the period. Turim 21 Investimentos Ltda. bought a new position in shares of PDD during the third quarter valued at $55,000. EverSource Wealth Advisors LLC lifted its holdings in shares of PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares during the period. AJOVista LLC bought a new position in shares of PDD during the fourth quarter valued at $103,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of PDD during the fourth quarter valued at $144,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $184.00 in a report on Friday, May 24th. Sanford C. Bernstein lifted their price target on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a 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 research report on Thursday, March 21st. Finally, Citigroup lifted their price objective on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $188.33.

Get Our Latest Stock Analysis on PDD

PDD Stock Up 3.2 %

Shares of NASDAQ PDD opened at $148.48 on Tuesday. The stock’s fifty day moving average is $134.13 and its 200 day moving average is $134.33. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market capitalization of $204.29 billion, a P/E ratio of 19.67, a PEG ratio of 0.26 and a beta of 0.64. PDD Holdings Inc. has a 52 week low of $66.40 and a 52 week high of $164.69.

PDD (NASDAQ:PDDGet Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. Sell-side analysts forecast 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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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