4,014 Shares in PDD Holdings Inc. (NASDAQ:PDD) Bought by Commerce Bank

Posted by on May 28th, 2023

Commerce Bank bought a new position in PDD Holdings Inc. (NASDAQ:PDD – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,014 shares of the company’s stock, valued at approximately $327,000.

Several other large investors have also made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. raised its position in PDD by 136.0% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company’s stock valued at $10,857,000 after purchasing an additional 148,166 shares during the period. Advisor Group Holdings Inc. raised its position in PDD by 100.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company’s stock valued at $152,000 after purchasing an additional 1,872 shares during the period. Raymond James & Associates raised its position in PDD by 16.1% in the first quarter. Raymond James & Associates now owns 16,641 shares of the company’s stock valued at $667,000 after purchasing an additional 2,304 shares during the period. American Century Companies Inc. raised its position in PDD by 30.7% in the first quarter. American Century Companies Inc. now owns 28,785 shares of the company’s stock valued at $1,155,000 after purchasing an additional 6,766 shares during the period. Finally, Panagora Asset Management Inc. raised its position in PDD by 16.5% in the first quarter. Panagora Asset Management Inc. now owns 40,548 shares of the company’s stock valued at $1,626,000 after purchasing an additional 5,744 shares during the period. 24.24% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Up 19.0 %

Shares of PDD stock opened at $71.42 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.85 and a current ratio of 1.85. The business has a 50 day moving average of $68.35 and a two-hundred day moving average of $80.65. PDD Holdings Inc. has a 52 week low of $38.80 and a 52 week high of $106.38.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on PDD shares. Citigroup cut their price objective on PDD from $115.00 to $100.00 in a research report on Tuesday, May 2nd. Barclays raised their target price on PDD from $84.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 29th. HSBC lowered their target price on PDD from $118.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, March 21st. The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and lowered their target price for the company from $116.00 to $93.00 in a research note on Monday, April 24th. Finally, Benchmark lowered their target price on PDD from $112.00 to $106.00 and set a “buy” rating for the company in a research note on Tuesday, March 21st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, PDD currently has an average rating of “Moderate Buy” and a consensus price target of $104.89.

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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