4,686 Shares in PDD Holdings Inc. (NASDAQ:PDD) Purchased by Simplicity Solutions LLC

Simplicity Solutions LLC acquired a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,686 shares of the company’s stock, valued at approximately $686,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. increased its stake in shares of PDD by 2.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after purchasing an additional 66 shares during the period. Mariner LLC increased its stake in shares of PDD by 1.4% in the fourth quarter. Mariner LLC now owns 9,607 shares of the company’s stock valued at $783,000 after purchasing an additional 133 shares during the period. CWM LLC increased its stake in shares of PDD by 22.7% in the third quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after purchasing an additional 140 shares during the period. Cerity Partners LLC increased its stake in shares of PDD by 3.2% in the fourth quarter. Cerity Partners LLC now owns 4,912 shares of the company’s stock valued at $401,000 after purchasing an additional 152 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in shares of PDD by 3.6% in the first quarter. Bleakley Financial Group LLC now owns 4,640 shares of the company’s stock valued at $352,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a research note on Monday, March 11th. Citigroup raised 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. Barclays raised their price objective on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lowered their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Finally, Benchmark raised their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Trading Down 0.1 %

Shares of NASDAQ:PDD opened at $113.43 on Thursday. The company has a 50 day moving average price of $122.85 and a 200 day moving average price of $125.66. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. The stock has a market capitalization of $149.68 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.29 and a beta of 0.67.

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