16,000 Shares in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Acquired by Ariose Capital Management Ltd

Ariose Capital Management Ltd acquired a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,000 shares of the company's stock, valued at approximately $1,894,000. PDD comprises about 2.1% of Ariose Capital Management Ltd's investment portfolio, making the stock its 10th biggest position.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PDD by 9,469.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after buying an additional 39,263,851 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PDD by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock worth $2,779,986,000 after buying an additional 268,662 shares during the period. FMR LLC boosted its holdings in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. Norges Bank bought a new position in PDD in the 4th quarter valued at $812,246,000. Finally, FIL Ltd boosted its holdings in PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after purchasing an additional 3,350,627 shares during the period. Institutional investors own 39.83% of the company's stock.

PDD Stock Up 1.0%

PDD traded up $1.06 on Tuesday, reaching $106.31. 5,262,111 shares of the company traded hands, compared to its average volume of 10,948,707. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The company has a market cap of $148.00 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.45 and a beta of 0.42. The firm has a fifty day simple moving average of $106.88 and a two-hundred day simple moving average of $108.60.

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

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. China Renaissance restated a "hold" rating and issued a $107.00 price objective on shares of PDD in a report on Wednesday, May 28th. 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. Finally, Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of "Moderate Buy" and a consensus 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.