Banco BTG Pactual S.A. Invests $537,000 in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Banco BTG Pactual S.A. acquired 4,541 shares valued at approximately $537,000 in PDD Holdings Inc. during the first quarter, according to its recent SEC filing.
• Other institutional investors, including Krane Funds Advisors LLC and OVERSEA CHINESE BANKING Corp Ltd, significantly increased their holdings in PDD during the same period.
• PDD's recent quarterly earnings revealed a significant miss on earnings per share, reporting $1.37 compared to the analysts' expectation of $2.25.

Banco BTG Pactual S.A. purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,541 shares of the company's stock, valued at approximately $537,000.

A number of other institutional investors have also modified their holdings of PDD. Venture Visionary Partners LLC purchased a new position in shares of PDD in the 1st quarter valued at approximately $3,244,000. Credit Agricole S A boosted its stake in PDD by 6.1% during the 1st quarter. Credit Agricole S A now owns 228,733 shares of the company's stock worth $27,071,000 after purchasing an additional 13,247 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of PDD by 20.6% during the 1st quarter. Wellington Management Group LLP now owns 950,922 shares of the company's stock worth $112,542,000 after acquiring an additional 162,412 shares during the period. MY.Alpha Management HK Advisors Ltd raised its holdings in PDD by 7.0% in the 1st quarter. MY.Alpha Management HK Advisors Ltd now owns 187,300 shares of the company's stock valued at $22,167,000 after buying an additional 12,286 shares during the period. Finally, Korea Investment CORP raised its holdings in PDD by 6.3% in the 1st quarter. Korea Investment CORP now owns 564,487 shares of the company's stock valued at $66,807,000 after buying an additional 33,700 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

Shares of NASDAQ:PDD traded up $4.15 during midday trading on Friday, reaching $127.11. The company had a trading volume of 20,130,840 shares, compared to its average volume of 6,230,717. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67. The firm has a market cap of $176.96 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. The company has a fifty day simple moving average of $110.35 and a two-hundred day simple moving average of $111.03.

PDD (NASDAQ:PDD - Get Free Report) last released 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). PDD had a net margin of 24.63% and a return on equity of 33.76%. The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same quarter last year, the business earned $20.72 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Wall Street Analyst Weigh In

PDD has been the subject of a number of analyst reports. Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. China Renaissance restated a "hold" rating and issued a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Benchmark dropped their price objective on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. JPMorgan Chase & Co. lowered their price target on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and upped their price target for the stock from $127.00 to $165.00 in a report on Monday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Company 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.