2,066 Shares in PDD Holdings Inc. (NASDAQ:PDD) Acquired by WCM Investment Management LLC

WCM Investment Management LLC purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,066 shares of the company’s stock, valued at approximately $300,000.

A number of other large investors also recently bought and sold shares of PDD. Simplicity Solutions LLC purchased a new position in shares of PDD in the 4th quarter valued at $686,000. NewEdge Wealth LLC purchased a new position in shares of PDD in the 4th quarter valued at $295,000. Tennessee Valley Asset Management Partners purchased a new position in shares of PDD in the 4th quarter valued at $144,000. Cerity Partners LLC raised its stake in shares of PDD by 7.0% in the 4th quarter. Cerity Partners LLC now owns 11,270 shares of the company’s stock valued at $1,649,000 after acquiring an additional 735 shares during the period. Finally, Custom Index Systems LLC purchased a new position in shares of PDD in the 4th quarter valued at $625,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

PDD Trading Down 4.6 %

Shares of NASDAQ:PDD opened at $115.50 on Monday. The company has a market cap of $152.41 billion, a PE ratio of 20.16, a P/E/G ratio of 0.30 and a beta of 0.67. The company’s 50-day moving average price is $123.54 and its 200 day moving average price is $125.50. PDD Holdings Inc. has a fifty-two week low of $59.67 and a fifty-two week high of $152.99. 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 (NASDAQ:PDD) last issued its quarterly earnings data 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 firm had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. Sell-side analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current 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.