Rehmann Capital Advisory Group Has $278,000 Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Rehmann Capital Advisory Group boosted its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 8.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,395 shares of the company’s stock after buying an additional 194 shares during the period. Rehmann Capital Advisory Group’s holdings in PDD were worth $278,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Triasima Portfolio Management inc. acquired a new position in PDD in the 4th quarter worth about $1,813,000. Los Angeles Capital Management LLC increased its position in PDD by 149.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock worth $34,501,000 after purchasing an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. increased its position in PDD by 37.5% in the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares during the last quarter. Vanguard Group Inc. increased its position in PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after purchasing an additional 6,637,418 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in PDD in the 4th quarter worth about $13,379,000. 29.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PDD has been the topic of several research reports. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $184.00 in a research report on Friday, May 24th. UBS Group increased their price objective on PDD from $248.00 to $272.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Jefferies Financial Group increased their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. decreased their target price on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Finally, Sanford C. Bernstein increased their target price on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $188.33.

PDD Price Performance

Shares of PDD stock traded up $0.60 during midday trading on Wednesday, hitting $138.32. 2,883,836 shares of the company were exchanged, compared to its average volume of 8,703,887. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $190.31 billion, a P/E ratio of 18.34, a PEG ratio of 0.23 and a beta of 0.63. PDD Holdings Inc. has a 52 week low of $70.14 and a 52 week high of $164.69. The firm has a 50 day simple moving average of $142.81 and a 200-day simple moving average of $134.13.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. PDD had a return on equity of 45.04% and a net margin of 26.93%. The firm had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $10.62 billion. Research analysts forecast that PDD Holdings Inc. will post 11.41 earnings per share for the current year.

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.