PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Sold by Barings LLC

Key Points

• Barings LLC reduced its stake in PDD Holdings Inc. by 30.7% during the first quarter, holding approximately $60.56 million worth of shares, which makes up around 1.5% of its investment portfolio.
• PDD Holdings reported earnings of $1.37 per share, missing estimates by $0.88, with revenues of $13.19 billion during the last quarter, showing a 10.2% increase compared to the same period last year.
• Research analysts are mixed on PDD's outlook, with a consensus price target of $144.55 and a majority rating of "Moderate Buy" from analysts, while some firms adjusted their rates with Citigroup upgrading it to a "buy" and JPMorgan lowering their target.

Barings LLC trimmed its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 30.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 511,703 shares of the company's stock after selling 226,467 shares during the quarter. PDD accounts for approximately 1.5% of Barings LLC's holdings, making the stock its 8th biggest holding. Barings LLC's holdings in PDD were worth $60,560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of PDD by 1.3% during the first quarter. Signaturefd LLC now owns 8,957 shares of the company's stock worth $1,060,000 after purchasing an additional 119 shares during the last quarter. Focus Financial Network Inc. boosted its position in PDD by 6.3% in the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock valued at $270,000 after buying an additional 136 shares during the period. Lindbrook Capital LLC grew its stake in PDD by 11.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock worth $228,000 after acquiring an additional 199 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of PDD during the first quarter worth approximately $26,000. Finally, AE Wealth Management LLC boosted its holdings in shares of PDD by 3.8% in the first quarter. AE Wealth Management LLC now owns 6,209 shares of the company's stock valued at $735,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent research reports. China Renaissance reissued a "hold" rating and set a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 target price on shares of PDD in a research report on Wednesday, May 28th. Macquarie restated an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Benchmark reduced their target price on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Trading Up 1.8%

PDD stock traded up $1.98 during trading on Monday, reaching $112.04. 3,833,438 shares of the stock were exchanged, compared to its average volume of 6,733,549. The business has a 50 day moving average price of $105.72 and a 200-day moving average price of $110.23. The firm has a market capitalization of $155.98 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.54 and a beta of 0.42. 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 quarterly earnings data 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 analysts' expectations of $103.37 billion. During the same period in the previous year, the business posted $20.72 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

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.