PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its position in PDD Holdings Inc. (NASDAQ:PDD) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,270 shares of the company’s stock after purchasing an additional 735 shares during the quarter. Cerity Partners LLC’s holdings in PDD were worth $1,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors raised its stake in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 331 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in PDD during the 4th quarter worth $43,000. Turim 21 Investimentos Ltda. acquired a new stake in PDD during the 3rd quarter worth $55,000. Finally, Wahed Invest LLC acquired a new stake in PDD during the 1st quarter worth $70,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 0.2 %

Shares of NASDAQ:PDD opened at $113.49 on Friday. 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. The firm’s 50-day simple moving average is $122.31 and its 200-day simple moving average is $125.86. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD Holdings Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $152.99.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $11.80 billion. As a group, equities research analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PDD shares. Benchmark raised their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Barclays raised their price objective on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Citigroup raised their price objective on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group raised their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.85.

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.