PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Range Financial Group LLC

Range Financial Group LLC reduced its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,847 shares of the company’s stock after selling 210 shares during the period. Range Financial Group LLC’s holdings in PDD were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SC US Ttgp LTD. boosted its stake in PDD by 1,414.4% during the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in PDD by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after purchasing an additional 2,292,068 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PDD by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after acquiring an additional 62,312 shares in the last quarter. Hhlr Advisors LTD. increased its stake in shares of PDD by 37.5% in the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after buying an additional 2,760,100 shares during the period. Finally, Norges Bank bought a new stake in PDD in the fourth quarter valued at about $1,075,172,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ:PDD opened at $141.53 on Tuesday. The business has a 50-day simple moving average of $139.76 and a two-hundred day simple moving average of $134.93. PDD Holdings Inc. has a fifty-two week low of $66.40 and a fifty-two week high of $164.69. The firm has a market cap of $194.73 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 0.26 and a beta of 0.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09.

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

Analysts Set New Price Targets

Several research analysts have weighed in on PDD shares. JPMorgan Chase & Co. lowered their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. Benchmark upped their price target on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Citigroup increased 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. Jefferies Financial Group upped their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $184.00 in a report on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $188.33.

PDD 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.