Banco Santander S.A. Sells 9,329 Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Banco Santander S.A. has reduced its stake in PDD Holdings Inc. by 53%, selling 9,329 shares and now holding 8,262 shares valued at approximately $978,000.
• Analysts have mixed opinions on PDD, with Citigroup upgrading the stock to a "buy" while Barclays downgraded it to a "hold"; the consensus rating remains a "Moderate Buy" with a price target of $144.55.
• PDD reported a quarterly earnings miss with an EPS of $1.37 compared to the consensus estimate of $2.25, while revenue for the quarter reached $13.19 billion, aligning with positive growth year-over-year.

Banco Santander S.A. decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 53.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,262 shares of the company's stock after selling 9,329 shares during the quarter. Banco Santander S.A.'s holdings in PDD were worth $978,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in PDD during the 1st quarter worth approximately $26,000. IFP Advisors Inc boosted its position in PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after acquiring an additional 290 shares during the last quarter. Siemens Fonds Invest GmbH bought a new stake in PDD during the fourth quarter valued at $192,000. OneDigital Investment Advisors LLC bought a new stake in PDD during the first quarter valued at $204,000. Finally, Gunderson Capital Management Inc. bought a new stake in PDD during the first quarter valued at $218,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Performance

Shares of PDD stock traded up $0.06 during trading hours on Friday, reaching $114.25. The company's stock had a trading volume of 3,249,773 shares, compared to its average volume of 8,942,333. 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 capitalization of $159.05 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.60 and a beta of 0.42. The stock's fifty day simple moving average is $106.41 and its two-hundred day simple moving average is $110.38.

PDD (NASDAQ:PDD - Get Free Report) last posted its 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). PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $103.37 billion. During the same quarter in the previous year, the company earned $20.72 EPS. The business's revenue was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and lifted their price target for the company from $127.00 to $165.00 in a research note on Monday, May 12th. China Renaissance reaffirmed a "hold" rating and issued a $107.00 price target on shares of PDD in a research note on Wednesday, May 28th. Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, Benchmark decreased their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Seven research 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 stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and an average target price 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.