Ausdal Financial Partners Inc. Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Ausdal Financial Partners Inc. bought a new position in shares of PDD Holdings Inc. (NASDAQ:PDD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,621 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the first quarter worth about $29,000. Mather Group LLC. increased its stake in shares of PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PDD during the fourth quarter worth about $59,000. EverSource Wealth Advisors LLC grew its stake in PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after acquiring an additional 101 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in PDD during the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Stock Performance

PDD stock opened at $93.06 on Wednesday. The firm has a 50 day simple moving average of $126.41 and a 200-day simple moving average of $130.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The stock has a market cap of $128.04 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.22 and a beta of 0.69.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same period in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was up 85.7% compared to the same quarter last year. On average, analysts expect that PDD Holdings Inc. will post 11.21 EPS for the current year.

Wall Street Analyst Weigh In

PDD has been the subject of several research reports. Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Barclays dropped their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Bank of America dropped their price objective on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Jefferies Financial Group dropped their price objective on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note 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 company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $177.78.

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.