Atria Wealth Solutions Inc. Lowers Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Atria Wealth Solutions Inc. cut its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. boosted its holdings in PDD by 294.4% during the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after buying an additional 209 shares in the last quarter. Turim 21 Investimentos Ltda. purchased a new stake in PDD during the third quarter worth $55,000. CWM LLC boosted its holdings in PDD by 22.7% during the third quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after buying an additional 140 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in PDD during the fourth quarter valued at $144,000. Finally, Wealth Alliance purchased a new position in PDD during the fourth quarter valued at $209,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PDD. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a report on Monday, March 11th. Jefferies Financial Group increased their price objective on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Barclays increased their price objective on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Citigroup increased their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. decreased their price objective 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Price Performance

Shares of NASDAQ PDD opened at $129.31 on Friday. The firm has a 50-day simple moving average of $121.75 and a 200-day simple moving average of $126.67. The stock has a market capitalization of $170.64 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The business had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. On average, equities analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal 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.