Great Valley Advisor Group Inc. Has $227,000 Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Great Valley Advisor Group Inc. decreased its stake in PDD Holdings Inc. (NASDAQ:PDD) by 27.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,685 shares of the company’s stock after selling 634 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in PDD were worth $227,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in shares of PDD in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC acquired a new position in PDD in the third quarter valued at about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. increased its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after buying an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD in the third quarter valued at approximately $34,000. 29.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on PDD shares. Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Sanford C. Bernstein lowered their target price on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Daiwa America raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Down 0.5 %

Shares of NASDAQ PDD opened at $98.80 on Thursday. The company’s 50 day simple moving average is $123.34 and its 200 day simple moving average is $128.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market capitalization of $135.94 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.26 and a beta of 0.71.

PDD (NASDAQ:PDD) last posted its quarterly earnings results 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. PDD had a return on equity of 46.08% and a net margin of 29.05%. The business had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. During the same period last year, the company earned $1.27 EPS. The firm’s revenue was up 85.7% on a year-over-year basis. On average, analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current 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.