SVB Wealth LLC Acquires 884 Shares of PDD Holdings Inc. (NASDAQ:PDD)

SVB Wealth LLC raised its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,427 shares of the company’s stock after purchasing an additional 884 shares during the period. SVB Wealth LLC’s holdings in PDD were worth $648,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Mackenzie Financial Corp increased its position in shares of PDD by 62.6% during the fourth quarter. Mackenzie Financial Corp now owns 48,923 shares of the company’s stock worth $7,158,000 after purchasing an additional 18,844 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of PDD by 1.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,468,849 shares of the company’s stock worth $214,907,000 after purchasing an additional 22,243 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in shares of PDD in the 4th quarter valued at $1,813,000. Louisiana State Employees Retirement System acquired a new position in shares of PDD in the 4th quarter valued at $7,769,000. Finally, WCM Investment Management LLC acquired a new position in shares of PDD in the 4th quarter valued at $300,000. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Trading Down 0.2 %

PDD stock opened at $113.49 on Friday. The company’s 50-day simple moving average is $122.31 and its 200-day simple moving average is $125.67. 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 52-week low of $59.67 and a 52-week high of $152.99. The firm has a market cap of $149.76 billion, a P/E ratio of 19.81, a PEG ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $11.80 billion. As a group, equities analysts forecast that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PDD. JPMorgan Chase & Co. cut their target price on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Jefferies Financial Group upped their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Barclays upped their target price on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Citigroup upped their target price on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price on the stock. in a research report on Monday, March 11th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.