Jump Financial LLC Purchases Shares of 1,861 PDD Holdings Inc. (NASDAQ:PDD)

Jump Financial LLC purchased a new stake in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,861 shares of the company’s stock, valued at approximately $272,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Johnson Investment Counsel Inc. boosted its holdings in PDD by 2.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after purchasing an additional 78 shares during the last quarter. AGF Management Ltd. boosted its stake in shares of PDD by 194.6% during the 4th quarter. AGF Management Ltd. now owns 13,910 shares of the company’s stock worth $2,035,000 after acquiring an additional 9,189 shares in the last quarter. Grand Alliance Asset Management Ltd purchased a new stake in shares of PDD during the 4th quarter worth about $2,363,000. Principal Securities Inc. purchased a new stake in shares of PDD during the 4th quarter worth about $184,000. Finally, AI Squared Management Ltd purchased a new stake in shares of PDD during the 4th quarter worth about $22,054,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Up 2.6 %

PDD stock opened at $157.57 on Monday. The company has a market cap of $216.80 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 0.41 and a beta of 0.67. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12 month low of $59.98 and a 12 month high of $164.69. The firm has a 50-day moving average of $128.33 and a two-hundred day moving average of $131.64.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. 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 research firms have recently issued reports on PDD. UBS Group increased their target price on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. lowered their target price 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 upped their price target on shares of PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America upped their price target on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein upped their price target on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $182.31.

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.