Atria Wealth Solutions Inc. Sells 6,871 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Atria Wealth Solutions Inc. lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,493 shares of the company’s stock after selling 6,871 shares during the period. Atria Wealth Solutions Inc.’s holdings in PDD were worth $4,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. increased 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 valued at $27,000 after acquiring an additional 209 shares in the last quarter. Turim 21 Investimentos Ltda. bought a new stake in shares of PDD during the third quarter valued at approximately $55,000. CWM LLC boosted its holdings in PDD by 22.7% in the third quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after purchasing an additional 140 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in PDD in the fourth quarter worth approximately $144,000. Finally, Wealth Alliance purchased a new stake in PDD in the fourth quarter worth approximately $209,000. Institutional investors own 29.07% of the company’s stock.

Analysts Set New Price Targets

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

PDD Trading Up 2.8 %

Shares of PDD stock opened at $129.31 on Friday. The stock has a market capitalization of $170.64 billion, a PE ratio of 22.57, a P/E/G ratio of 0.33 and a beta of 0.67. PDD Holdings Inc. has a 1-year low of $59.67 and a 1-year high of $152.99. The company’s fifty day simple moving average is $121.75 and its 200-day simple moving average is $126.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to the consensus estimate 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.

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.