SVB Wealth LLC Grows Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

SVB Wealth LLC lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other institutional investors have also modified their holdings of the company. 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 position in PDD in the fourth quarter valued at $43,000. Turim 21 Investimentos Ltda. acquired a new position in PDD in the third quarter valued at $55,000. Captrust Financial Advisors increased its stake in PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 331 shares during the period. Finally, CWM LLC increased its stake in PDD by 22.7% in the third quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after purchasing an additional 140 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a research note on Monday, March 11th. Citigroup lifted their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. dropped their price objective 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. Barclays boosted their price target on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, 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 note on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Stock Down 0.2 %

PDD stock opened at $113.49 on Friday. The company has a market cap of $149.76 billion, a P/E ratio of 19.81, a P/E/G ratio of 0.29 and a beta of 0.67. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99. The company’s 50-day moving average price is $122.31 and its 200 day moving average price is $125.67. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. On average, research analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal 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.