Banco Santander S.A. Decreases Stock Holdings in 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. trimmed its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 53.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,262 shares of the company's stock after selling 9,329 shares during the period. Banco Santander S.A.'s holdings in PDD were worth $978,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PDD. Pitcairn Co. purchased a new position in shares of PDD during the 4th quarter valued at about $338,000. Resona Asset Management Co. Ltd. purchased a new position in PDD in the 4th quarter worth approximately $16,411,000. Aviva PLC increased its stake in PDD by 1.2% in the 4th quarter. Aviva PLC now owns 616,033 shares of the company's stock worth $59,749,000 after purchasing an additional 7,088 shares during the period. Quadrant Capital Group LLC increased its stake in PDD by 7.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,794 shares of the company's stock worth $756,000 after purchasing an additional 518 shares during the period. Finally, Himension Capital Singapore PTE. LTD. increased its stake in PDD by 159.0% in the 4th quarter. Himension Capital Singapore PTE. LTD. now owns 108,850 shares of the company's stock worth $10,557,000 after purchasing an additional 66,819 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on PDD shares. JPMorgan Chase & Co. decreased their price target on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Finally, Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.55.

PDD Stock Performance

Shares of NASDAQ PDD traded up $0.25 during mid-day trading on Thursday, hitting $114.19. 5,151,236 shares of the stock traded hands, compared to its average volume of 8,981,462. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $155.67. The company has a market cap of $158.97 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.58 and a beta of 0.42. The stock has a fifty day moving average price of $106.09 and a 200-day moving average price of $110.32.

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 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 firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. During the same quarter in the prior year, the firm earned $20.72 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.

About PDD

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.