Optimist Retirement Group LLC Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Optimist Retirement Group LLC purchased a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,710 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PDD. Future Financial Wealth Managment LLC bought a new position in shares of PDD during the 1st quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD during the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. boosted its holdings in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of PDD during the 2nd quarter worth approximately $40,000. Finally, Mather Group LLC. boosted its holdings in shares of PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after buying an additional 354 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PDD. Macquarie cut PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Sanford C. Bernstein cut their target price on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Bank of America cut their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Nomura Securities upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $177.78.

PDD Trading Down 0.2 %

NASDAQ PDD opened at $98.23 on Thursday. The firm has a market capitalization of $135.15 billion, a P/E ratio of 13.01, a PEG ratio of 0.24 and a beta of 0.69. The business has a fifty day simple moving average of $121.61 and a 200 day simple moving average of $128.75. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period in the prior year, the firm posted $1.27 EPS. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. On average, analysts predict that PDD Holdings Inc. will post 11.05 EPS for the current fiscal year.

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.