Onyx Bridge Wealth Group LLC Sells 1,945 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Onyx Bridge Wealth Group LLC lowered its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 46.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,236 shares of the company’s stock after selling 1,945 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in PDD were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Ninety One UK Ltd purchased a new stake in shares of PDD during the 4th quarter worth approximately $235,666,000. Ninety One North America Inc. purchased a new stake in shares of PDD during the 4th quarter worth approximately $54,093,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PDD by 59.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 328,772 shares of the company’s stock worth $48,103,000 after purchasing an additional 122,530 shares during the last quarter. Wealth Alliance purchased a new stake in shares of PDD during the 4th quarter worth approximately $209,000. Finally, SVB Wealth LLC increased its stake in shares of PDD by 25.0% during the 4th quarter. SVB Wealth LLC now owns 4,427 shares of the company’s stock worth $648,000 after purchasing an additional 884 shares during the last quarter. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of PDD traded down $0.21 during mid-day trading on Friday, reaching $113.49. 9,408,029 shares of the stock traded hands, compared to its average volume of 6,467,566. PDD Holdings Inc. has a 1 year low of $59.67 and a 1 year high of $152.99. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a market cap of $149.76 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The firm has a fifty day moving average price of $122.31 and a 200 day moving average price of $125.67.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. As a group, equities research analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays raised their price target on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a research note on Monday, March 11th. Benchmark lifted their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, March 21st. Finally, Citigroup lifted their price objective on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and an average target price of $146.85.

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.