PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,375 shares of the company’s stock after selling 908 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in PDD were worth $1,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. grew its stake 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 acquiring an additional 66 shares during the period. Johnson Investment Counsel Inc. grew its stake in PDD by 2.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after acquiring an additional 78 shares during the period. EverSource Wealth Advisors LLC grew its stake in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares during the period. PDS Planning Inc grew its stake in PDD by 5.2% in the 4th quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after acquiring an additional 116 shares during the period. Finally, Ritholtz Wealth Management grew its stake in PDD by 1.4% in the 4th quarter. Ritholtz Wealth Management now owns 12,189 shares of the company’s stock valued at $1,783,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PDD shares. UBS Group lifted their price target on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Bank of America lifted their price target on PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Benchmark lifted their price target on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Citigroup lifted their price target on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $188.33.

PDD Stock Down 0.2 %

Shares of PDD opened at $143.86 on Friday. The firm has a market cap of $197.93 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 0.26 and a beta of 0.64. PDD Holdings Inc. has a 12-month low of $66.40 and a 12-month high of $164.69. The company’s 50-day moving average price is $139.22 and its 200 day moving average price is $134.97. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $1.44 by $1.19. The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. On average, sell-side analysts forecast that PDD Holdings Inc. will post 11.19 earnings per share for the current 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.