Prospera Private Wealth LLC Invests $27,000 in PDD Holdings Inc. (NASDAQ:PDD)

Prospera Private Wealth LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 200 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC increased its holdings in shares of PDD by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,810 shares of the company’s stock worth $244,000 after purchasing an additional 89 shares in the last quarter. Ballentine Partners LLC increased its holdings in PDD by 4.6% in the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after buying an additional 120 shares in the last quarter. Parallel Advisors LLC raised its position in PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after buying an additional 122 shares during the last quarter. Legacy Capital Group California Inc. boosted its holdings in shares of PDD by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after acquiring an additional 133 shares during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of PDD by 6.8% in the third quarter. OneDigital Investment Advisors LLC now owns 2,624 shares of the company’s stock worth $354,000 after acquiring an additional 166 shares during the period. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Down 3.9 %

PDD stock opened at $100.07 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The firm has a market capitalization of $137.68 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 0.28 and a beta of 0.71. The firm has a 50 day moving average of $123.24 and a 200 day moving average of $129.77.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm had revenue of $97.06 billion during the quarter, compared to analysts’ expectations of $100.17 billion. During the same period in the prior year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 85.7% compared to the same quarter last year. As a group, research analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $170.00 to $105.00 in a report on Friday. Sanford C. Bernstein cut their price objective on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Barclays reduced their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $173.40.

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.