Cetera Investment Advisers Buys 7,255 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Cetera Investment Advisers lifted its position in PDD Holdings Inc. (NASDAQ:PDD) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,554 shares of the company’s stock after acquiring an additional 7,255 shares during the quarter. Cetera Investment Advisers’ holdings in PDD were worth $5,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its holdings in PDD by 149.0% during the first quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after acquiring an additional 177,600 shares during the period. Hhlr Advisors LTD. raised its stake in shares of PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares during the period. 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 buying an additional 62,312 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in PDD by 63.7% during the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after buying an additional 89,853 shares during the last quarter. Finally, Connectus Wealth LLC raised its position in PDD by 9.4% in the fourth quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock worth $1,003,000 after acquiring an additional 590 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Down 5.4 %

Shares of NASDAQ PDD opened at $144.86 on Wednesday. The business has a 50-day simple moving average of $120.57 and a two-hundred day simple moving average of $129.59. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a market cap of $199.31 billion, a P/E ratio of 19.19, a P/E/G ratio of 0.37 and a beta of 0.71. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last released its quarterly earnings data 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 net margin of 28.92% and a return on equity of 48.14%. The company had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same period last year, the business earned $1.27 earnings per share. PDD’s revenue was up 85.7% compared to the same quarter last year. Research analysts anticipate that PDD Holdings Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and increased their target price for the company from $126.00 to $224.00 in a research report on Monday. Sanford C. Bernstein decreased their target price on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Benchmark decreased their price objective on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, PDD has an average rating of “Buy” and an average target price of $182.40.

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.