Banque Pictet & Cie SA Increases Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Banque Pictet & Cie SA lifted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 96.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,900 shares of the company's stock after buying an additional 5,850 shares during the period. Banque Pictet & Cie SA's holdings in PDD were worth $1,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in 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 purchasing an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares during the period. Jones Financial Companies Lllp boosted its stake 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 worth $118,000 after buying an additional 97 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of PDD in the fourth quarter worth about $165,000. Finally, Siemens Fonds Invest GmbH purchased a new position in PDD during the fourth quarter worth approximately $192,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent analyst reports. Barclays downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. JPMorgan Chase & Co. reduced their target price on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a "buy" rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 price target on shares of PDD in a report on Wednesday, May 28th. Finally, Nomura reaffirmed a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $144.55.

PDD Stock Performance

NASDAQ PDD traded up $0.58 during trading on Friday, reaching $105.55. 2,160,925 shares of the company's stock were exchanged, compared to its average volume of 10,933,194. The stock has a market cap of $146.95 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.47 and a beta of 0.42. The company has a 50 day moving average price of $106.89 and a two-hundred day moving average price of $108.59. 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 earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $103.37 billion. During the same quarter last year, the firm posted $20.72 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts forecast 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.