Prudential PLC Raises Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Prudential PLC boosted its position in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 674,654 shares of the company’s stock after buying an additional 15,079 shares during the quarter. PDD makes up about 1.1% of Prudential PLC’s holdings, making the stock its 14th largest position. Prudential PLC owned about 0.05% of PDD worth $98,709,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. SRS Capital Advisors Inc. grew its position in shares of PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after purchasing an additional 101 shares in the last quarter. Turim 21 Investimentos Ltda. purchased a new position in shares of PDD in the third quarter valued at $55,000. AJOVista LLC purchased a new position in shares of PDD in the fourth quarter valued at $103,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of PDD in the fourth quarter valued at $144,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PDD has been the subject of several research analyst reports. Bank of America lifted their price objective on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein lifted their price objective on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Barclays lifted their price objective on PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Finally, Citigroup lifted their price target on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $188.33.

Get Our Latest Research Report on PDD

PDD Stock Up 0.0 %

Shares of PDD stock traded up $0.07 during midday trading on Friday, reaching $143.90. 4,578,332 shares of the stock were exchanged, compared to its average volume of 11,353,179. PDD Holdings Inc. has a 1 year low of $66.40 and a 1 year high of $164.69. The company’s 50 day moving average is $133.54 and its two-hundred day moving average is $133.88. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm has a market cap of $197.99 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 0.26 and a beta of 0.64.

PDD (NASDAQ:PDDGet Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a return on equity of 45.04% and a net margin of 26.93%. The firm had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. On average, equities research analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current year.

PDD Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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