Allspring Global Investments Holdings LLC lessened its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 17.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,212 shares of the company's stock after selling 9,052 shares during the period. Allspring Global Investments Holdings LLC's holdings in PDD were worth $5,402,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of PDD. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the period. Jones Financial Companies Lllp grew its position in shares of PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after purchasing an additional 97 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of PDD during the fourth quarter worth approximately $165,000. Finally, Siemens Fonds Invest GmbH bought a new position in shares of PDD during the fourth quarter worth approximately $192,000. Institutional investors own 39.83% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PDD. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Nomura reaffirmed a "neutral" rating and set a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Macquarie reissued an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. 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. Finally, Barclays cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Seven investment 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.55.
Check Out Our Latest Stock Report on PDD
PDD Stock Performance
Shares of PDD stock traded up $1.66 during trading on Monday, reaching $105.25. 5,211,306 shares of the company's stock were exchanged, compared to its average volume of 10,971,449. The firm's 50-day moving average price is $106.84 and its 200 day moving average price is $108.56. The company has a market cap of $146.52 billion, a P/E ratio of 11.33, a PEG ratio of 1.45 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67.
PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $20.72 earnings per share. As a group, equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS 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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