Onyx Bridge Wealth Group LLC Sells 1,945 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Onyx Bridge Wealth Group LLC trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 46.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,236 shares of the company’s stock after selling 1,945 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in PDD were worth $327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PDD. Captrust Financial Advisors raised its position in shares of PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after purchasing an additional 331 shares during the period. SRS Capital Advisors Inc. increased its holdings in PDD by 294.4% in the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in PDD in the 4th quarter valued at $43,000. Turim 21 Investimentos Ltda. bought a new stake in PDD in the 3rd quarter valued at $55,000. Finally, Wahed Invest LLC bought a new stake in PDD in the 1st quarter valued at $70,000. 29.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of research reports. Citigroup lifted their price target on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a report on Monday, March 11th. Jefferies Financial Group boosted their target price on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. reduced their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Finally, Barclays boosted their target price on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Trading Down 0.2 %

Shares of PDD stock traded down $0.21 during trading hours on Friday, reaching $113.49. 9,408,029 shares of the stock were exchanged, compared to its average volume of 6,467,566. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $122.31 and its 200-day moving average price is $125.67. The firm has a market capitalization of $149.76 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last released 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. The firm had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. As a group, equities analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

About PDD

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.