Richardson Financial Services Inc. Buys 233 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Richardson Financial Services Inc. increased its position in PDD Holdings Inc. (NASDAQ:PDD) by 3,883.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239 shares of the company’s stock after purchasing an additional 233 shares during the quarter. Richardson Financial Services Inc.’s holdings in PDD were worth $32,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of PDD in the 2nd quarter worth approximately $32,000. Future Financial Wealth Managment LLC purchased a new stake in PDD during the first quarter worth $29,000. Mather Group LLC. boosted its position in PDD by 1,106.3% during the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PDD in the 4th quarter valued at $59,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after acquiring an additional 101 shares in the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PDD. 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 research note on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Benchmark reduced their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Sanford C. Bernstein lowered their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group cut their price target on shares of PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PDD has a consensus rating of “Buy” and an average target price of $177.78.

PDD Trading Up 1.8 %

NASDAQ PDD opened at $99.98 on Friday. The stock has a market cap of $137.56 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.24 and a beta of 0.69. 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 Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a fifty day simple moving average of $120.82 and a two-hundred day simple moving average of $128.55.

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