Venture Visionary Partners LLC Makes New $1.59 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Venture Visionary Partners LLC purchased a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 11,805 shares of the company’s stock, valued at approximately $1,591,000.

Other hedge funds have also modified their holdings of the company. Ballentine Partners LLC lifted its holdings in PDD by 4.6% during the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after buying an additional 120 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock valued at $324,000 after buying an additional 122 shares during the period. Legacy Capital Group California Inc. raised its position in shares of PDD by 6.8% during the second quarter. Legacy Capital Group California Inc. now owns 2,080 shares of the company’s stock worth $277,000 after acquiring an additional 133 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of PDD by 1.2% during the first quarter. Oppenheimer & Co. Inc. now owns 14,010 shares of the company’s stock valued at $1,629,000 after acquiring an additional 168 shares during the period. Finally, CWM LLC boosted its holdings in PDD by 19.3% in the third quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $141,000 after acquiring an additional 169 shares during the last quarter. 29.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the subject of several recent research reports. Citigroup cut 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 report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Bank of America dropped their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Finally, Benchmark dropped their price objective on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $182.40.

PDD Price Performance

Shares of PDD opened at $124.86 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $171.79 billion, a PE ratio of 16.54, a P/E/G ratio of 0.33 and a beta of 0.71. The stock has a 50 day simple moving average of $120.96 and a 200 day simple moving average of $130.65. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

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, topping the consensus estimate of $2.66 by $20.58. The company had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm’s revenue was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Sell-side analysts predict that PDD Holdings Inc. will post 11.05 EPS for the current fiscal 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.