Oppenheimer & Co. Inc. Acquires 168 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Oppenheimer & Co. Inc. grew its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,010 shares of the company’s stock after purchasing an additional 168 shares during the period. Oppenheimer & Co. Inc.’s holdings in PDD were worth $1,629,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PDD. Vanguard Group Inc. grew its position in shares of PDD by 38.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares in the last quarter. Diversified Trust Co purchased a new position in PDD in the fourth quarter worth $580,000. Wedmont Private Capital purchased a new position in PDD in the fourth quarter worth $263,000. Nordea Investment Management AB grew its position in PDD by 7.2% in the fourth quarter. Nordea Investment Management AB now owns 297,090 shares of the company’s stock worth $43,334,000 after acquiring an additional 20,045 shares in the last quarter. Finally, Range Financial Group LLC purchased a new position in PDD in the fourth quarter worth $301,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PDD. Barclays upped their price target on shares of PDD from $178.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Bank of America upped their price target on shares of PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Sanford C. Bernstein upped their price target on shares of PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, UBS Group upped their price objective on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PDD has a consensus rating of “Buy” and a consensus target price of $188.33.

PDD Price Performance

PDD stock opened at $142.42 on Monday. PDD Holdings Inc. has a 1 year low of $74.48 and a 1 year high of $164.69. The company has a market cap of $195.95 billion, a P/E ratio of 18.86, a PEG ratio of 0.25 and a beta of 0.63. The firm has a 50-day moving average of $143.16 and a 200 day moving average of $134.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $1.19. PDD had a net margin of 26.93% and a return on equity of 45.04%. The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. On average, sell-side analysts forecast that PDD Holdings Inc. will post 11.41 EPS for the current year.

PDD 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.