PDD Holdings Inc. (NASDAQ:PDD) Position Boosted by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,270 shares of the company’s stock after buying an additional 735 shares during the quarter. Cerity Partners LLC’s holdings in PDD were worth $1,649,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PDD. SC US Ttgp LTD. lifted its holdings in PDD by 1,414.4% in the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PDD by 38.0% in the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the last quarter. Norges Bank bought a new position in PDD in the fourth quarter worth about $501,089,000. Baillie Gifford & Co. lifted its holdings in PDD by 14.4% in the third quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after acquiring an additional 4,501,126 shares during the last quarter. Finally, FMR LLC lifted its holdings in PDD by 32.6% in the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after acquiring an additional 4,334,186 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $113.49 on Friday. PDD Holdings Inc. has a 12 month low of $59.67 and a 12 month high of $152.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. The firm has a market capitalization of $149.76 billion, a PE ratio of 19.81, a P/E/G ratio of 0.29 and a beta of 0.67. The company’s 50 day simple moving average is $122.31 and its 200 day simple moving average is $125.86.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The business had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. As a group, equities research analysts forecast that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

PDD Company 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.