Signaturefd LLC Has $1.22 Million Position in PDD Holdings Inc. (NASDAQ:PDD)

Signaturefd LLC trimmed its position in PDD Holdings Inc. (NASDAQ:PDD) by 2.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,079 shares of the company’s stock after selling 188 shares during the period. Signaturefd LLC’s holdings in PDD were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PDD. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. lifted its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after acquiring an additional 233 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of PDD during the 1st quarter valued at $29,000. Mather Group LLC. increased its position in shares of PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in PDD in the second quarter valued at about $60,000. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

PDD stock opened at $122.34 on Thursday. The stock has a 50-day moving average price of $120.26 and a two-hundred day moving average price of $130.67. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a market capitalization of $168.32 billion, a PE ratio of 13.18, a P/E/G ratio of 0.30 and a beta of 0.71. 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 (NASDAQ:PDD) last issued its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same quarter last year, the business earned $1.27 EPS. The firm’s quarterly revenue was up 85.7% on a year-over-year basis. Analysts expect that PDD Holdings Inc. will post 11.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Benchmark reduced their price target on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group lowered their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Daiwa America raised PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Sanford C. Bernstein lowered 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. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $182.40.

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.