Candriam S.C.A. Acquires 21,800 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Candriam S.C.A. has increased its holdings in PDD Holdings by 13.7%, acquiring an additional 21,800 shares in the first quarter, bringing their total to 180,800 shares valued at approximately $21.4 million.
• PDD reported a 1.37 EPS for the last quarter, falling short of the consensus estimate of $2.25, despite a 10.2% year-over-year revenue increase to $13.19 billion.
• Analysts have a consensus rating of "Moderate Buy" for PDD, with a target price averaging $144.55, reflecting ongoing optimism despite mixed earnings results.

Candriam S.C.A. increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 180,800 shares of the company's stock after buying an additional 21,800 shares during the quarter. Candriam S.C.A.'s holdings in PDD were worth $21,398,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PDD. Hollencrest Capital Management acquired a new position in PDD during the 1st quarter worth approximately $26,000. IFP Advisors Inc raised its stake in PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after buying an additional 290 shares during the period. Siemens Fonds Invest GmbH acquired a new position in PDD during the 4th quarter worth approximately $192,000. OneDigital Investment Advisors LLC acquired a new position in PDD during the 1st quarter worth approximately $204,000. Finally, Gunderson Capital Management Inc. purchased a new stake in shares of PDD in the first quarter worth approximately $218,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of NASDAQ PDD opened at $118.00 on Thursday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The stock has a fifty day moving average of $109.43 and a 200-day moving average of $110.82. The stock has a market cap of $164.27 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of 0.42.

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 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 business had revenue of $13.19 billion for the quarter, compared to analysts' expectations of $103.37 billion. During the same quarter in the previous year, the firm earned $20.72 earnings per share. PDD's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $112.00 price objective on shares of PDD in a research note on Wednesday, May 28th. China Renaissance reiterated a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Citigroup upgraded 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 report on Monday, May 12th. Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Benchmark lowered their target price on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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