Legacy Capital Group California Inc. Purchases 133 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Legacy Capital Group California Inc. boosted its stake in PDD Holdings Inc. (NASDAQ:PDD) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,080 shares of the company’s stock after buying an additional 133 shares during the quarter. Legacy Capital Group California Inc.’s holdings in PDD were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Johnson Investment Counsel Inc. raised its position in PDD by 2.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock valued at $480,000 after buying an additional 78 shares during the last quarter. Checchi Capital Advisers LLC raised its position in PDD by 2.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after buying an additional 98 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares during the last quarter. PDS Planning Inc raised its position in PDD by 5.2% in the 4th quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after buying an additional 116 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of PDD by 6.8% during the 1st quarter. Ballentine Partners LLC now owns 2,581 shares of the company’s stock valued at $300,000 after purchasing an additional 164 shares during the last quarter. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD traded up $1.36 during trading hours on Wednesday, hitting $145.58. The stock had a trading volume of 5,267,223 shares, compared to its average volume of 8,271,433. The company’s fifty day simple moving average is $137.64 and its 200 day simple moving average is $132.71. PDD Holdings Inc. has a 1 year low of $76.82 and a 1 year high of $164.69. The stock has a market cap of $200.30 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 0.25 and a beta of 0.63. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last issued its earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $10.62 billion. Equities analysts anticipate that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

Analyst Ratings Changes

PDD has been the subject of several research analyst reports. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and raised their target price for the company from $145.00 to $184.00 in a research report on Friday, May 24th. Citigroup raised their target price on PDD from $185.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Bank of America raised their target price on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Benchmark raised their target price on PDD from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Sanford C. Bernstein raised their target price on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $188.33.

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.