Ballentine Partners LLC Buys 120 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Ballentine Partners LLC boosted its position in PDD Holdings Inc. (NASDAQ:PDD) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,701 shares of the company’s stock after acquiring an additional 120 shares during the quarter. Ballentine Partners LLC’s holdings in PDD were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its holdings in shares of PDD by 2.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after purchasing an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of PDD by 31.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the period. Legacy Capital Group California Inc. boosted its holdings in PDD by 6.8% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock valued at $277,000 after acquiring an additional 133 shares during the period. Oppenheimer & Co. Inc. grew its position in PDD by 1.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,010 shares of the company’s stock worth $1,629,000 after acquiring an additional 168 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in PDD by 8.8% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,395 shares of the company’s stock worth $278,000 after purchasing an additional 194 shares during the period. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PDD shares. Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a report on Monday, August 26th. UBS Group raised their price target on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group upgraded shares of PDD from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Finally, Sanford C. Bernstein reduced their price target on PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $177.78.

PDD Stock Performance

Shares of PDD opened at $95.28 on Thursday. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. The company has a 50-day simple moving average of $125.56 and a two-hundred day simple moving average of $129.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $131.09 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.22 and a beta of 0.69.

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