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Position of PDD Holdings Inc. (NASDAQ:PDD) strengthened by Cerity Partners LLC


Cerity Partners LLC has acquired its interest in the shares of PDD Holdings Inc. (NASDAQ:PDD – Free Report) increased 7.0% during the fourth quarter, HoldingsChannel.com reports. The company owned 11,270 shares of the company, after purchasing an additional 735 shares during the quarter. Cerity Partners LLC’s stakes in PDD were worth $1,649,000 at the time of the most recent SEC filing.

Several other major investors have also changed their holdings of PDD. SC US Ttgp LTD. increased its stake in PDD by 1,414.4% in the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Vanguard Group Inc. increased its stake in PDD by 38.0% in the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the last quarter. Norges Bank bought a new position in PDD in the fourth quarter worth approximately $501,089,000. Baillie Gifford & Co. increased its stake in PDD by 14.4% in the third quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after acquiring an additional 4,501,126 shares during the last quarter. Finally, FMR LLC increased its stake in PDD by 32.6% in the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after acquiring an additional 4,334,186 shares during the last quarter. Institutional investors own 29.07% of the company’s shares.

PDD price performance

NASDAQ PDD opened at $113.49 on Friday. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. The company has a market cap of $149.76 billion, a price-to-earnings ratio of 19.81, a price-to-earnings ratio of 0.29 and a beta of 0.67. The company’s 50-day simple moving average is $122.31 and its 200-day simple moving average is $125.86.

PDD (NASDAQ:PDD – Get Free Report) posted its latest quarterly earnings data on Wednesday, March 20. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The company had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. As a group, equity research analysts predict that PDD Holdings Inc. will record a profit per share of 7.85 for the current financial year.

Analyst upgrades and downgrades

A number of stock analysts have issued reports on PDD stock. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price on the stock. in a report on Monday, March 11. JPMorgan Chase & Co. lowered their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the stock in a report on Thursday, March 21. Benchmark lifted their price target on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21. Jefferies Financial Group raised their price target on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21. Finally, Citigroup increased their price target on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and an average target price of $146.85.

Get our latest stock analysis on PDD

PDD company profile

(Free report)

PDD Holdings Inc, a multinational trading group, owns and operates a portfolio of companies. It operates Pinduoduo, an e-commerce platform that offers products across categories including agricultural products, apparel, footwear, bags, maternal and child care products, food and beverages, electronic appliances, furniture and household items, cosmetics and other personal care, sports and fitness items and car accessories; and Temu, an online marketplace.

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Would you like to see which other hedge funds own PDD? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for PDD Holdings Inc. (NASDAQ:PDD – Free Report).

Quarterly Institutional Ownership for PDD (NASDAQ:PDD)



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