Wealth Alliance Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Wealth Alliance acquired a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,427 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of PDD by 2.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after acquiring an additional 66 shares in the last quarter. Mariner LLC grew its holdings in PDD by 1.4% during the fourth quarter. Mariner LLC now owns 9,607 shares of the company’s stock worth $783,000 after purchasing an additional 133 shares during the period. CWM LLC grew its holdings in PDD by 22.7% during the third quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after purchasing an additional 140 shares during the period. Cerity Partners LLC grew its holdings in PDD by 3.2% during the fourth quarter. Cerity Partners LLC now owns 4,912 shares of the company’s stock worth $401,000 after purchasing an additional 152 shares during the period. Finally, Bleakley Financial Group LLC grew its holdings in PDD by 3.6% during the first quarter. Bleakley Financial Group LLC now owns 4,640 shares of the company’s stock worth $352,000 after purchasing an additional 160 shares during the period. Institutional investors own 29.07% of the company’s stock.

PDD Stock Down 0.2 %

NASDAQ PDD opened at $113.49 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99. The company has a 50 day moving average of $122.31 and a 200-day moving average of $125.67. The company has a market cap of $149.76 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last released its quarterly 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. PDD had a net margin of 24.23% and a return on equity of 39.10%. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. On average, equities research analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lifted their price target on PDD from $164.00 to $178.00 and gave the stock an “overweight” 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 stock a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group cut PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a report on Monday, March 11th. Benchmark lifted their price target on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. reduced 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and a consensus price target of $146.85.

PDD 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.