LPL Financial LLC Increases Holdings in PDD Holdings Inc. (NASDAQ:PDD)

LPL Financial LLC raised its position in PDD Holdings Inc. (NASDAQ:PDD – Get Rating) by 623.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,599 shares of the company’s stock after buying an additional 23,786 shares during the period. LPL Financial LLC’s holdings in PDD were worth $2,251,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. James Investment Research Inc. acquired a new stake in shares of PDD in the 4th quarter valued at about $34,000. Hollencrest Capital Management acquired a new stake in PDD during the fourth quarter worth about $41,000. Captrust Financial Advisors raised its stake in PDD by 108.5% during the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after acquiring an additional 331 shares during the period. Wahed Invest LLC acquired a new stake in PDD during the first quarter worth about $70,000. Finally, Lindbrook Capital LLC increased its stake in shares of PDD by 8.3% in the fourth quarter. Lindbrook Capital LLC now owns 2,160 shares of the company’s stock valued at $176,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 24.24% of the company’s stock.

PDD Stock Performance

PDD stock opened at $60.53 on Monday. The firm’s fifty day simple moving average is $71.23 and its 200-day simple moving average is $80.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85. PDD Holdings Inc. has a 1-year low of $36.29 and a 1-year high of $106.38.

PDD (NASDAQ:PDD – Get Rating) last released its quarterly earnings results on Monday, March 20th. The company reported $8.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $7.34. The business had revenue of $39.82 billion for the quarter, compared to the consensus estimate of $40.74 billion. PDD had a net margin of 23.93% and a return on equity of 32.10%. PDD’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. On average, equities research analysts expect that PDD Holdings Inc. will post 3.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and dropped their price target for the company from $116.00 to $93.00 in a research note on Monday, April 24th. Morgan Stanley upgraded shares of PDD from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $77.00 to $113.00 in a report on Thursday, March 2nd. Benchmark decreased their price objective on shares of PDD from $112.00 to $106.00 and set a “buy” rating for the company in a report on Tuesday, March 21st. Barclays raised their target price on shares of PDD from $84.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 29th. Finally, Bank of America reduced their target price on shares of PDD from $108.00 to $95.00 in a report on Tuesday, March 21st. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.89.

About PDD

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PDD Holdings, Inc is a multinational commerce group that owns and operates a portfolio of businesses. The company aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from increased productivity and new opportunities. It has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses.