Knights of Columbus Asset Advisors LLC Decreases Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Knights of Columbus Asset Advisors LLC cut its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 24.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,389 shares of the company’s stock after selling 4,346 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in PDD were worth $1,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in PDD by 2.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after purchasing an additional 66 shares in the last quarter. Mariner LLC lifted its holdings in shares of PDD by 1.4% during the 4th quarter. Mariner LLC now owns 9,607 shares of the company’s stock worth $783,000 after acquiring an additional 133 shares during the period. CWM LLC lifted its holdings in shares of PDD by 22.7% during the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after acquiring an additional 140 shares during the period. Cerity Partners LLC lifted its holdings in shares of PDD by 3.2% during the 4th quarter. Cerity Partners LLC now owns 4,912 shares of the company’s stock worth $401,000 after acquiring an additional 152 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in shares of PDD by 3.6% during the 1st quarter. Bleakley Financial Group LLC now owns 4,640 shares of the company’s stock worth $352,000 after acquiring an additional 160 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Down 0.2 %

Shares of NASDAQ:PDD opened at $113.49 on Friday. 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 company has a 50 day moving average of $122.31 and a two-hundred day moving average of $125.86. The company has a market capitalization of $149.76 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) 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 company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. As a group, analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PDD. Citigroup increased their price objective on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Barclays increased 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. Jefferies Financial Group increased their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. 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 report on Monday, March 11th. Finally, Benchmark increased their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average price target of $146.85.

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.