PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Thrivent Financial for Lutherans

Posted by on May 14th, 2023

Thrivent Financial for Lutherans lessened its stake in PDD Holdings Inc. (NASDAQ:PDD – Get Rating) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,003 shares of the company’s stock after selling 445 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PDD were worth $5,220,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Parametrica Management Ltd bought a new stake in shares of PDD in the 4th quarter worth about $1,466,000. Asset Management One Co. Ltd. boosted its stake in PDD by 8.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 245,241 shares of the company’s stock valued at $15,347,000 after purchasing an additional 19,726 shares during the period. MY.Alpha Management HK Advisors Ltd boosted its stake in PDD by 3.1% during the 3rd quarter. MY.Alpha Management HK Advisors Ltd now owns 415,174 shares of the company’s stock valued at $25,981,000 after purchasing an additional 12,468 shares during the period. Enlightenment Research LLC acquired a new position in PDD during the 3rd quarter valued at about $701,000. Finally, Barclays PLC boosted its stake in PDD by 93.7% during the 3rd quarter. Barclays PLC now owns 3,183,701 shares of the company’s stock valued at $199,238,000 after purchasing an additional 1,540,380 shares during the period. Institutional investors and hedge funds own 24.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PDD. Bank of America dropped their target price on shares of PDD from $108.00 to $95.00 in a report on Tuesday, March 21st. Citigroup cut their price target on shares of PDD from $115.00 to $100.00 in a report on Tuesday, May 2nd. Barclays boosted their price target on shares of PDD from $84.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, March 29th. UBS Group cut their price target on shares of PDD from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, March 21st. Finally, The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and cut their price target for the company from $116.00 to $93.00 in a report on Monday, April 24th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.90.

PDD Stock Down 2.8 %

Shares of PDD stock opened at $63.32 on Friday. The stock’s 50 day simple moving average is $73.86 and its 200 day simple moving average is $80.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85. PDD Holdings Inc. has a twelve month low of $35.25 and a twelve month high of $106.38. The company has a market capitalization of $78.43 billion, a price-to-earnings ratio of 19.79 and a beta of 0.74.

PDD (NASDAQ:PDD – Get Rating) last released its earnings results on Monday, March 20th. The company reported $8.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $7.34. The firm had revenue of $39.82 billion for the quarter, compared to analyst estimates of $40.74 billion. PDD had a return on equity of 32.10% and a net margin of 23.93%. The company’s revenue was up 46.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. As a group, research analysts predict that PDD Holdings Inc. will post 3.33 EPS for the current year.

PDD Company Profile

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PDD Holdings, Inc is a multinational commerce group that owns and operates a portfolio of businesses. The company aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from increased productivity and new opportunities. It has built a network of sourcing, logistics, and fulfillment capabilities, that support its underlying businesses.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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