Nordea Investment Management AB Sells 3,581 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Nordea Investment Management AB lessened its holdings in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 293,509 shares of the company’s stock after selling 3,581 shares during the quarter. Nordea Investment Management AB’s holdings in PDD were worth $34,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in PDD during the 1st quarter valued at about $29,000. Gordian Capital Singapore Pte Ltd bought a new stake in PDD during the 4th quarter worth approximately $59,000. EverSource Wealth Advisors LLC increased its stake in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares in the last quarter. AJOVista LLC acquired a new position in PDD during the 4th quarter worth approximately $103,000. Finally, Royal London Asset Management Ltd. acquired a new position in PDD during the 4th quarter worth approximately $112,000. Institutional investors own 29.07% of the company’s stock.

PDD Stock Down 0.1 %

Shares of NASDAQ PDD opened at $134.50 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. PDD Holdings Inc. has a 52 week low of $69.06 and a 52 week high of $164.69. The stock has a market capitalization of $185.05 billion, a P/E ratio of 17.84, a PEG ratio of 0.24 and a beta of 0.63. The stock’s fifty day moving average is $142.56 and its 200 day moving average is $134.18.

PDD (NASDAQ:PDDGet Free Report) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The company had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $10.62 billion. Sell-side analysts forecast that PDD Holdings Inc. will post 11.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PDD has been the subject of a number of recent research reports. Barclays upped their price target on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. JPMorgan Chase & Co. cut their price objective 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 raised their price target on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Sanford C. Bernstein raised 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. Finally, Benchmark raised their price target on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $188.33.

Get Our Latest Stock Analysis on PDD

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

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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