PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,013 shares of the company’s stock after selling 623 shares during the quarter. Atria Investments Inc’s holdings in PDD were worth $406,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in PDD during the 2nd quarter valued at about $32,000. Richardson Financial Services Inc. increased its stake in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after acquiring an additional 233 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of PDD during the third quarter worth $34,000. Strategic Financial Concepts LLC acquired a new position in PDD during the second quarter valued at $40,000. Finally, Mather Group LLC. boosted its holdings in PDD by 1,106.3% in the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the last quarter. 29.07% of the stock is owned by institutional investors and hedge funds.

PDD Price Performance

NASDAQ:PDD opened at $104.14 on Friday. The stock has a 50 day moving average price of $123.14 and a 200 day moving average price of $130.03. The stock has a market cap of $143.28 billion, a PE ratio of 11.22, a P/E/G ratio of 0.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 28.92% and a return on equity of 48.14%. The business’s revenue was up 85.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 EPS. Equities research analysts expect that PDD Holdings Inc. will post 11.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays decreased their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday. Citigroup lowered shares of PDD from a “buy” rating to a “neutral” rating and dropped their price target for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. Bank of America decreased their price objective 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. Finally, Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $184.40.

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.