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XTX Topco Ltd Purchases New Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

PDD logo with Retail/Wholesale background

Key Points

  • XTX Topco Ltd acquired 31,420 shares of PDD Holdings Inc. for approximately $3.7 million in the 1st quarter, reflecting growing interest from institutional investors.
  • PDD Holdings reported a Q1 EPS of $1.37, missing expectations by $0.88, with revenue of $13.19 billion, marking a 10.2% increase year-over-year.
  • Analyst ratings for PDD vary, with seven analysts rating it as a hold and six as a buy, resulting in an average target price of $144.55.
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XTX Topco Ltd acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,420 shares of the company's stock, valued at approximately $3,719,000.

A number of other institutional investors have also recently bought and sold shares of PDD. Signaturefd LLC lifted its holdings in shares of PDD by 1.3% during the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company's stock valued at $1,060,000 after buying an additional 119 shares during the last quarter. Focus Financial Network Inc. lifted its holdings in shares of PDD by 6.3% during the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock valued at $270,000 after buying an additional 136 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of PDD by 11.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock valued at $228,000 after buying an additional 199 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of PDD during the 1st quarter valued at about $26,000. Finally, AE Wealth Management LLC lifted its holdings in shares of PDD by 3.8% during the 1st quarter. AE Wealth Management LLC now owns 6,209 shares of the company's stock valued at $735,000 after buying an additional 229 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PDD. Benchmark reduced their price target on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Macquarie reissued an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Barclays downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Citigroup raised PDD from a "neutral" rating to a "buy" rating and raised their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. cut their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

Get Our Latest Stock Report on PDD

PDD Stock Down 2.2%

NASDAQ PDD traded down $2.50 during trading on Wednesday, hitting $112.92. The company's stock had a trading volume of 7,245,082 shares, compared to its average volume of 6,105,140. The firm has a 50 day moving average price of $106.03 and a 200 day moving average price of $109.89. The firm has a market cap of $157.20 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $155.67.

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

About PDD

(Free Report)

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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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