Pathstone Holdings LLC Sells 1,999 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Pathstone Holdings LLC lessened its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,745 shares of the company’s stock after selling 1,999 shares during the period. Pathstone Holdings LLC’s holdings in PDD were worth $1,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of PDD by 39.5% during the 1st quarter. Advisors Asset Management Inc. now owns 1,767 shares of the company’s stock valued at $205,000 after acquiring an additional 500 shares during the period. California State Teachers Retirement System boosted its position in shares of PDD by 20.2% in the first quarter. California State Teachers Retirement System now owns 217,319 shares of the company’s stock worth $25,263,000 after purchasing an additional 36,595 shares during the period. Cetera Investment Advisers purchased a new stake in shares of PDD in the first quarter worth $3,987,000. Cetera Advisors LLC raised its position in shares of PDD by 81.4% during the 1st quarter. Cetera Advisors LLC now owns 27,778 shares of the company’s stock valued at $3,229,000 after purchasing an additional 12,463 shares during the period. Finally, Railway Pension Investments Ltd lifted its stake in shares of PDD by 243.7% during the 1st quarter. Railway Pension Investments Ltd now owns 24,400 shares of the company’s stock valued at $2,836,000 after buying an additional 17,300 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PDD. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and decreased their target price for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Benchmark cut their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Price Performance

PDD stock opened at $98.80 on Friday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a market cap of $135.94 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.26 and a beta of 0.71. The firm’s fifty day moving average is $123.31 and its 200 day moving average is $128.71. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 29.05% and a return on equity of 46.08%. The firm had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter last year, the firm earned $1.27 EPS. The firm’s revenue for the quarter was up 85.7% compared to the same quarter last year. Sell-side analysts forecast that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

About PDD

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.