4,890 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by Seven Eight Capital LP

Seven Eight Capital LP purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDDFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,890 shares of the company’s stock, valued at approximately $715,000.

Several other large investors have also recently added to or reduced their stakes in PDD. J.P. Morgan Private Wealth Advisors LLC purchased a new position in PDD in the third quarter valued at about $238,000. Charles Schwab Investment Management Inc. grew its position in shares of PDD by 36.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 801,931 shares of the company’s stock valued at $78,645,000 after purchasing an additional 213,368 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of PDD by 14.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 10,299 shares of the company’s stock valued at $1,010,000 after purchasing an additional 1,263 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in shares of PDD in the third quarter valued at approximately $571,000. Finally, Greenleaf Trust acquired a new stake in shares of PDD in the third quarter valued at approximately $206,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the topic of several research reports. Barclays increased their price target on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. UBS Group raised their target price on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. decreased their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Benchmark raised their target price on shares of PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Sanford C. Bernstein raised their target price on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $188.33.

Check Out Our Latest Stock Analysis on PDD

PDD Stock Performance

Shares of PDD stock opened at $148.48 on Tuesday. The company’s fifty day simple moving average is $134.13 and its 200-day simple moving average is $134.33. PDD Holdings Inc. has a 52 week low of $66.40 and a 52 week high of $164.69. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The company has a market cap of $204.29 billion, a PE ratio of 19.67, a P/E/G ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDDGet Free Report) last released its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.81. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. As a group, equities research analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current year.

PDD Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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