Migdal Insurance & Financial Holdings Ltd. Has $177,000 Position in PDD Holdings Inc. (NASDAQ:PDD)

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

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors raised its holdings in PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 331 shares during the period. SRS Capital Advisors Inc. grew 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 buying an additional 209 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of PDD in the 4th quarter valued at $43,000. Turim 21 Investimentos Ltda. acquired a new stake in PDD during the 3rd quarter worth $55,000. Finally, Wahed Invest LLC bought a new position in PDD during the first quarter worth about $70,000. Institutional investors own 29.07% of the company’s stock.

PDD Stock Up 0.2 %

Shares of PDD stock opened at $113.70 on Friday. The business’s 50 day simple moving average is $122.59 and its 200 day simple moving average is $125.57. PDD Holdings Inc. has a 52-week low of $59.67 and a 52-week high of $152.99. The firm has a market cap of $150.04 billion, a PE ratio of 19.84, a P/E/G ratio of 0.29 and a beta of 0.67. 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 (NASDAQ:PDD) last announced its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. On average, analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on PDD. 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. Jefferies Financial Group raised their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Barclays raised their price target on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Citigroup raised their price target on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. dropped their price target on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Company 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.