PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC trimmed its position in PDD Holdings Inc. (NASDAQ:PDD) by 24.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,389 shares of the company’s stock after selling 4,346 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in PDD were worth $1,959,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ninety One UK Ltd acquired a new stake in shares of PDD during the fourth quarter worth $235,666,000. Ninety One North America Inc. purchased a new stake in shares of PDD during the fourth quarter worth about $54,093,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PDD by 59.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 328,772 shares of the company’s stock worth $48,103,000 after purchasing an additional 122,530 shares in the last quarter. Wealth Alliance acquired a new position in PDD during the fourth quarter worth about $209,000. Finally, SVB Wealth LLC boosted its position in PDD by 25.0% during the fourth quarter. SVB Wealth LLC now owns 4,427 shares of the company’s stock worth $648,000 after acquiring an additional 884 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PDD shares. JPMorgan Chase & Co. lowered their price target 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. Citigroup boosted their price target 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 boosted their price target 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. Benchmark boosted their price target 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. Finally, The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a research report on Monday, March 11th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Trading Down 0.2 %

NASDAQ PDD opened at $113.49 on Friday. 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 stock has a market capitalization of $149.76 billion, a P/E ratio of 19.81, a PEG ratio of 0.29 and a beta of 0.67. The firm’s 50-day moving average is $122.31 and its two-hundred day moving average is $125.86. PDD Holdings Inc. has a 12 month low of $59.67 and a 12 month high of $152.99.

PDD (NASDAQ:PDD) last announced 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 business had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. On average, sell-side analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

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.