Avior Wealth Management LLC Grows Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Avior Wealth Management LLC grew its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 50.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501 shares of the company’s stock after purchasing an additional 169 shares during the quarter. Avior Wealth Management LLC’s holdings in PDD were worth $68,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Advisors Asset Management Inc. raised its position in shares of PDD by 39.5% during the 1st quarter. Advisors Asset Management Inc. now owns 1,767 shares of the company’s stock valued at $205,000 after buying an additional 500 shares during the period. Caxton Associates LP purchased a new stake in shares of PDD during the 1st quarter valued at approximately $971,000. California State Teachers Retirement System raised its position in shares of PDD by 20.2% during the 1st quarter. California State Teachers Retirement System now owns 217,319 shares of the company’s stock valued at $25,263,000 after buying an additional 36,595 shares during the period. iA Global Asset Management Inc. raised its position in shares of PDD by 6.5% during the 1st quarter. iA Global Asset Management Inc. now owns 73,060 shares of the company’s stock valued at $8,493,000 after buying an additional 4,467 shares during the period. Finally, Artal Group S.A. raised its position in shares of PDD by 73.8% during the 1st quarter. Artal Group S.A. now owns 56,500 shares of the company’s stock valued at $6,568,000 after buying an additional 24,000 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ:PDD opened at $100.07 on Monday. The company has a fifty day simple moving average of $123.24 and a two-hundred day simple moving average of $129.64. The company has a market cap of $137.68 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.25 and a beta of 0.71. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 29.05% and a return on equity of 49.53%. The company’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, equities analysts anticipate that PDD Holdings Inc. will post 11.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

PDD has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $170.00 to $105.00 in a research report on Friday. Jefferies Financial Group cut their target price on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America cut their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Benchmark cut their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research 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. According to MarketBeat.com, PDD presently has a consensus rating of “Buy” and an average price target 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.