Pekin Hardy Strauss Inc. Has $230,000 Position in PDD Holdings Inc. (NASDAQ:PDD)

Pekin Hardy Strauss Inc. trimmed its stake in PDD Holdings Inc. (NASDAQ:PDD) by 33.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,575 shares of the company’s stock after selling 800 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in PDD were worth $230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SC US Ttgp LTD. lifted its stake in shares of PDD by 1,414.4% in the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after buying an additional 45,048,300 shares in the last quarter. Baillie Gifford & Co. lifted its position in PDD by 6.4% in the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after acquiring an additional 2,292,068 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PDD by 38.0% in the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares in the last quarter. FMR LLC boosted its position in shares of PDD by 32.6% during the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after buying an additional 4,334,186 shares during the last quarter. Finally, Invesco Ltd. raised its position in PDD by 5.4% in the 3rd quarter. Invesco Ltd. now owns 7,349,430 shares of the company’s stock valued at $720,759,000 after buying an additional 376,947 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

Analysts Set New Price Targets

PDD has been the subject of several recent analyst reports. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. Citigroup increased their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group upped their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Benchmark increased their price target on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Barclays boosted their price objective on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research 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 stock. According to data from MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and an average target price of $146.85.

PDD Stock Down 0.6 %

PDD stock opened at $124.49 on Thursday. The firm has a market capitalization of $164.28 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 0.32 and a beta of 0.67. The firm has a 50 day simple moving average of $121.35 and a 200 day simple moving average of $127.05. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The business had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. On average, analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

PDD Company 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.