Prospera Private Wealth LLC Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Prospera Private Wealth LLC acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 200 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in PDD during the third quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD during the 2nd quarter valued at approximately $32,000. Richardson Financial Services Inc. grew its holdings in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after purchasing an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in PDD in the third quarter worth $34,000. Finally, Mather Group LLC. raised its stake in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $100.07 on Friday. The stock has a market capitalization of $137.68 billion, a PE ratio of 10.78, a PEG ratio of 0.28 and a beta of 0.71. The company has a 50 day moving average price of $123.24 and a 200-day moving average price of $129.77. 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 fifty-two week low of $88.01 and a fifty-two week high of $164.69.

PDD (NASDAQ:PDD) last announced its earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. The business’s revenue for the quarter was up 85.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. Equities analysts predict that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $170.00 to $105.00 in a research note on Friday. Bank of America lowered their price objective on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Nomura Securities upgraded PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $173.40.

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.