International Assets Investment Management LLC Invests $13.38 Million in PDD Holdings Inc. (NASDAQ:PDD)

International Assets Investment Management LLC bought a new position in PDD Holdings Inc. (NASDAQ:PDD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 91,444 shares of the company’s stock, valued at approximately $13,379,000.

A number of other large investors have also bought and sold shares of the business. SRS Capital Advisors Inc. lifted its position in shares of PDD by 294.4% during the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Turim 21 Investimentos Ltda. bought a new stake in shares of PDD during the third quarter worth $55,000. Shen Neil Nanpeng acquired a new position in shares of PDD during the third quarter valued at $175,000. Greenleaf Trust bought a new position in PDD in the third quarter valued at about $206,000. Finally, USA Financial Formulas bought a new stake in PDD during the 3rd quarter worth about $207,000. 29.07% of the stock is currently owned by institutional investors.

PDD Stock Up 1.9 %

PDD stock opened at $140.18 on Monday. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $121.72 and a 200-day moving average of $127.68. The stock has a market capitalization of $184.98 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.36 and a beta of 0.67.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping 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 firm had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. On average, equities research analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PDD shares. Citigroup increased their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. decreased their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Jefferies Financial Group increased their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Benchmark raised their target price on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, The Goldman Sachs Group cut PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a research note on Monday, March 11th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.85.

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.