Allianz SE Has $3.11 Million Stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Allianz SE significantly increased its stake in PDD Holdings Inc. by 554.6%, bringing its total holdings to $3.11 million by the end of the first quarter.
• PDD's stock has recently suffered a 3.0% decline, despite notable institutional investments, with a market capitalization of $153.22 billion.
• PDD's quarterly earnings report showed a disappointing $1.37 EPS, missing expectations of $2.25, and analysts are predicting an average price target of $144.55 for the stock.

Allianz SE lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 554.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,264 shares of the company's stock after acquiring an additional 22,252 shares during the quarter. Allianz SE's holdings in PDD were worth $3,108,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Krane Funds Advisors LLC raised its position in PDD by 78.3% in the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after purchasing an additional 2,211,286 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of PDD by 56.3% during the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock worth $91,898,000 after acquiring an additional 341,300 shares during the last quarter. Myriad Asset Management US LP acquired a new position in shares of PDD during the first quarter valued at $4,496,000. FMR LLC boosted its holdings in PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Down 3.0%

Shares of PDD stock opened at $110.06 on Monday. The firm has a market capitalization of $153.22 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67. The firm has a fifty day moving average of $105.72 and a 200-day moving average of $110.23.

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

Analysts Set New Price Targets

PDD has been the subject of several recent research reports. Citigroup raised PDD from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Macquarie reissued an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 price objective on shares of PDD in a report on Wednesday, May 28th. Benchmark lowered their target price on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, China Renaissance reiterated a "hold" rating and set a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and an average price target of $144.55.

PDD 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.

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