Fiera Capital Corp Has $1.91 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Fiera Capital Corp grew its position in PDD Holdings Inc. (NASDAQ:PDD) by 172.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,180 shares of the company’s stock after purchasing an additional 8,971 shares during the quarter. Fiera Capital Corp’s holdings in PDD were worth $1,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. lifted its stake in 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 purchasing an additional 233 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in PDD during the third quarter worth $34,000. Strategic Financial Concepts LLC bought a new stake in PDD during the second quarter worth $40,000. Finally, Mather Group LLC. lifted its stake in PDD by 1,106.3% during the second quarter. Mather Group LLC. now owns 386 shares of the company’s stock worth $51,000 after purchasing an additional 354 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Nomura Securities upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Citigroup cut PDD from a “buy” rating to a “neutral” rating and cut their target price for the stock from $194.00 to $120.00 in a research note on Tuesday, August 27th. Bank of America cut their target price on PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Benchmark dropped their price target on PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Daiwa America 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’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $182.40.

PDD Stock Performance

NASDAQ PDD opened at $117.81 on Friday. The company has a market capitalization of $162.09 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.29 and a beta of 0.71. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The stock has a fifty day simple moving average of $119.63 and a 200 day simple moving average of $131.00. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating 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 return on equity of 48.14% and a net margin of 28.92%. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 earnings per share. Sell-side analysts expect 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.