California State Teachers Retirement System Has $37.02 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• California State Teachers Retirement System increased its PDD stake by 17.2% in the first quarter, holding 362,290 shares valued at approximately $37.02 million. Institutional investors collectively own 39.83% of the company.
• PDD reported quarterly EPS of $1.38, missing the $2.40 consensus estimate, while revenue of $15.41 billion also fell short of forecasts but grew 11% year over year.
• Analyst sentiment is mixed, with PDD carrying a consensus “Hold” rating and an average price target of $124.64; the stock recently opened at $88.56, well below its 52-week high of $139.41.

California State Teachers Retirement System boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 362,290 shares of the company's stock after buying an additional 53,081 shares during the period. California State Teachers Retirement System's holdings in PDD were worth $37,019,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC boosted its holdings in shares of PDD by 0.7% in the third quarter. Advisory Services Network LLC now owns 15,458 shares of the company's stock worth $2,043,000 after buying an additional 102 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of PDD by 3.6% during the first quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company's stock valued at $369,000 after acquiring an additional 127 shares during the period. Focus Partners Wealth raised its holdings in shares of PDD by 1.0% during the fourth quarter. Focus Partners Wealth now owns 13,886 shares of the company's stock valued at $1,512,000 after acquiring an additional 142 shares during the period. Fifth Third Bancorp lifted its position in shares of PDD by 4.3% in the 4th quarter. Fifth Third Bancorp now owns 3,649 shares of the company's stock valued at $414,000 after acquiring an additional 151 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of PDD by 0.8% in the 4th quarter. Mariner LLC now owns 22,092 shares of the company's stock valued at $2,506,000 after acquiring an additional 165 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD stock opened at $88.56 on Friday. The firm has a 50 day simple moving average of $83.46 and a 200 day simple moving average of $95.48. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41. The stock has a market cap of $126.06 billion and a P/E ratio of 9.56.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The company had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the prior year, the company posted $1.57 EPS. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lowered shares of PDD from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Arete Research upgraded PDD from a "neutral" rating to a "buy" rating and set a $121.00 target price for the company in a report on Friday, April 17th. Nomura lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Citigroup lowered their price target on PDD from $142.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Finally, Daiwa Securities Group reissued a "hold" rating and set a $80.00 price target on shares of PDD in a research report on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $124.64.

About PDD

PDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

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