Prospera Financial Services Inc Acquires 1,033 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Prospera Financial Services Inc boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 27.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,842 shares of the company’s stock after purchasing an additional 1,033 shares during the period. Prospera Financial Services Inc’s holdings in PDD were worth $653,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new stake in shares of PDD in the 3rd quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. increased its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of PDD during the third quarter worth approximately $34,000. Finally, Mather Group LLC. raised its stake in shares of PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after acquiring an additional 354 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup cut PDD from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Sanford C. Bernstein cut their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Benchmark decreased their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $105.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $173.40.

PDD Price Performance

Shares of PDD stock opened at $100.07 on Friday. The firm’s 50 day moving average price is $123.24 and its two-hundred day moving average price is $129.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock has a market cap of $137.68 billion, a PE ratio of 9.77, a PEG ratio of 0.25 and a beta of 0.71.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 49.53% and a net margin of 29.05%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same period last year, the company earned $1.27 EPS. The firm’s revenue was up 85.7% on a year-over-year basis. As a group, analysts forecast that PDD Holdings Inc. will post 11.19 EPS for the current year.

About PDD

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.