PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Connectus Wealth LLC

Connectus Wealth LLC lifted its position in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,852 shares of the company’s stock after acquiring an additional 590 shares during the quarter. Connectus Wealth LLC’s holdings in PDD were worth $1,003,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares during the period. Turim 21 Investimentos Ltda. acquired a new position in PDD during the 3rd quarter valued at approximately $55,000. EverSource Wealth Advisors LLC boosted its position in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares during the period. AJOVista LLC bought a new stake in PDD during the 4th quarter valued at $103,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in PDD during the 4th quarter valued at $144,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PDD. Citigroup lifted their target price on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Jefferies Financial Group lifted their target price on 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 lifted their target price on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Benchmark lifted their target price on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Barclays lifted their target price on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $188.33.

Read Our Latest Research Report on PDD

PDD Stock Up 3.2 %

PDD opened at $148.48 on Tuesday. PDD Holdings Inc. has a one year low of $66.40 and a one year high of $164.69. 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’s fifty day moving average is $134.13 and its 200-day moving average is $134.33. The company has a market capitalization of $204.29 billion, a PE ratio of 19.67, a P/E/G ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDDGet Free Report) last announced 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 company had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. On average, equities analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

PDD Company Profile

(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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