PFG Investments LLC acquires 240 shares of PDD Holdings Inc. (NASDAQ:PDD)

PFG Investments LLC grew its holdings in PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,441 shares of the company’s stock after acquiring an additional 240 shares during the quarter. PFG Investments LLC’s holdings in PDD were worth $723,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new position in PDD in the first quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new position in PDD in the second quarter valued at about $40,000. Mather Group LLC. raised its stake in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in PDD in the fourth quarter valued at about $59,000. Finally, Ridgewood Investments LLC acquired a new position in PDD in the second quarter valued at approximately $60,000. Institutional investors own 29.07% of the company’s shares.

Analyst upgrades and downgrades

A number of research firms have recently commented on PDD. Jefferies Financial Group decreased their price target on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Sanford C. Bernstein cut their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. UBS Group upped their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Daiwa America raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Macquarie downgraded PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $177.78, according to MarketBeat.com.

Read our latest research report on PDD

PDD stock performance

NASDAQ:PDD opened at $93.06 on Wednesday. The stock has a market cap of $128.04 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 0.22 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. The stock’s 50-day moving average is $126.41 and its 200-day moving average is $130.01. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

PDD (NASDAQ:PDD – Get Your Free Report ) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, topping the consensus estimate of $2.66 by $20.58. The company had revenue of $97.06 billion for 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 company’s quarterly revenue was up 85.7% compared to the same quarter last year. In the same period last year, the business posted earnings of $1.27 per share. Equities research analysts anticipate that PDD Holdings Inc. will post 11.21 earnings per share for the current year.

PDD profile

(Free Report)

PDD Holdings Inc, a multinational trading group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products from various categories including agricultural products, apparel, shoes, bags, mother and baby care products, food and beverages, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness products and car accessories; and Temu, an online marketplace.

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