PDD Holdings Inc. (NASDAQ:PDD) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 64.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,362 shares of the company’s stock after buying an additional 5,626 shares during the period. Raymond James & Associates’ holdings in PDD were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. increased its stake in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after buying an additional 209 shares during the period. Altshuler Shaham Ltd bought a new stake in PDD during the fourth quarter worth approximately $43,000. Turim 21 Investimentos Ltda. bought a new stake in PDD during the third quarter worth approximately $55,000. Captrust Financial Advisors lifted its position in PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 331 shares during the period. Finally, CWM LLC boosted its stake in PDD by 22.7% during the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after purchasing an additional 140 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PDD has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a report on Monday, March 11th. Barclays raised their price objective on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Jefferies Financial Group boosted their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Citigroup raised their target price on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Stock Performance

Shares of PDD stock opened at $113.52 on Wednesday. The company has a market capitalization of $149.80 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 0.30 and a beta of 0.67. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $123.16 and its 200-day simple moving average is $125.74.

PDD (NASDAQ:PDD) last released its earnings results 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. The company had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, sell-side analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

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.