Migdal Insurance & Financial Holdings Ltd. Reduces Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Migdal Insurance & Financial Holdings Ltd. cut its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 86.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,220 shares of the company’s stock after selling 7,780 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in PDD were worth $177,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors increased its holdings in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 331 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of PDD by 294.4% in the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of PDD in the 4th quarter valued at approximately $43,000. Turim 21 Investimentos Ltda. bought a new stake in shares of PDD in the 3rd quarter valued at approximately $55,000. Finally, Wahed Invest LLC bought a new stake in shares of PDD in the 1st quarter valued at approximately $70,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Up 0.2 %

Shares of PDD stock opened at $113.70 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. PDD Holdings Inc. has a 1 year low of $59.67 and a 1 year high of $152.99. The stock has a fifty day moving average of $122.59 and a two-hundred day moving average of $125.57. The firm has a market capitalization of $150.04 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The company had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. As a group, research analysts expect that PDD Holdings Inc. will post 7.85 EPS for the current year.

Wall Street Analyst Weigh In

PDD has been the subject of a number of research analyst reports. Barclays boosted their price target on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price target on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Jefferies Financial Group boosted their price target on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a report on Monday, March 11th. Finally, Benchmark upped their price objective on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.85.

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.