Intech Investment Management LLC Trims Position in PDD Holdings Inc. (NASDAQ:PDD)

Intech Investment Management LLC decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 9.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 14,922 shares of the company’s stock after selling 1,530 shares during the period. Intech Investment Management LLC’s holdings in PDD were worth $1,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in PDD during the first quarter worth approximately $29,000. Gordian Capital Singapore Pte Ltd acquired a new position in PDD during the fourth quarter worth approximately $59,000. EverSource Wealth Advisors LLC increased its position in PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares during the last quarter. AJOVista LLC acquired a new stake in shares of PDD in the fourth quarter worth $103,000. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of PDD in the fourth quarter worth $112,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Up 0.7 %

PDD traded up $0.96 during trading hours on Friday, reaching $133.04. 4,888,682 shares of the stock traded hands, compared to its average volume of 6,837,479. The firm’s fifty day simple moving average is $142.81 and its two-hundred day simple moving average is $133.71. The company has a market cap of $183.05 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 0.23 and a beta of 0.63. PDD Holdings Inc. has a fifty-two week low of $74.48 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $10.62 billion. As a group, analysts forecast that PDD Holdings Inc. will post 11.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PDD shares. Citigroup increased their price objective on shares of PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. UBS Group increased their price objective on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Sanford C. Bernstein increased their price objective on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Bank of America increased their price objective on shares of PDD from $191.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, Barclays increased their price objective on shares of PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $188.33.

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.