19,548 Shares in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Purchased by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise has acquired 19,548 shares in PDD Holdings Inc., valued at approximately $2.31 million, marking a significant investment in the company.
• PDD's latest quarterly earnings report showed an EPS of $1.37, significantly missing analysts' estimates of $2.25, while the company's revenue was reported at $13.19 billion, up 10.2% year-over-year.
• Analysts have provided mixed ratings, with Citigroup upgrading PDD to a "buy" and setting a new price target of $165, while other firms have lowered their targets, indicating a consensus target price of $144.55.

Banque Cantonale Vaudoise acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,548 shares of the company's stock, valued at approximately $2,313,000.

Several other large investors have also recently added to or reduced their stakes in PDD. Hollencrest Capital Management bought a new position in PDD in the first quarter valued at approximately $26,000. IFP Advisors Inc boosted its stake in PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after acquiring an additional 290 shares during the last quarter. OneDigital Investment Advisors LLC bought a new position in PDD in the first quarter valued at approximately $204,000. Gunderson Capital Management Inc. bought a new position in PDD in the first quarter valued at approximately $218,000. Finally, First Affirmative Financial Network bought a new position in PDD in the first quarter valued at approximately $218,000. 39.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and increased their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Trading Up 0.5%

Shares of PDD traded up $0.53 during midday trading on Thursday, reaching $113.45. The stock had a trading volume of 4,640,282 shares, compared to its average volume of 6,256,181. The firm has a 50 day simple moving average of $105.90 and a 200-day simple moving average of $110.01. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The firm has a market cap of $157.94 billion, a PE ratio of 12.21, a P/E/G ratio of 1.58 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a net margin of 24.63% and a return on equity of 33.76%. The firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $103.37 billion. During the same period last year, the business earned $20.72 EPS. The business's revenue was up 10.2% on a year-over-year basis. As a group, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal 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.