Cetera Investment Advisers lifted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 107.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,493 shares of the company's stock after acquiring an additional 11,628 shares during the quarter. Cetera Investment Advisers' holdings in PDD were worth $2,298,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Binnacle Investments Inc raised its stake in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock valued at $36,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC raised its position in PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock valued at $43,000 after buying an additional 263 shares during the period. Wexford Capital LP purchased a new stake in PDD in the 3rd quarter worth about $44,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PDD during the 4th quarter worth about $44,000. Finally, Larson Financial Group LLC boosted its position in PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company's stock worth $53,000 after acquiring an additional 353 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on PDD shares. Arete Research raised PDD from a "neutral" rating to a "buy" rating and set a $121.00 target price on the stock in a research report on Friday, April 17th. Zacks Research cut shares of PDD from a "hold" rating to a "strong sell" rating in a report on Monday, July 27th. Nomura downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Sanford C. Bernstein cut their target price on shares of PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a research report on Wednesday, May 27th. Finally, BNP Paribas Exane assumed coverage on PDD in a research note on Monday, June 15th. They set an "underperform" rating and a $89.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $124.64.
Check Out Our Latest Analysis on PDD
PDD Stock Up 1.0%
PDD stock opened at $91.76 on Friday. The business has a 50 day moving average price of $83.65 and a two-hundred day moving average price of $94.79. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The stock has a market cap of $130.61 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.75 and a beta of 0.02.
PDD (NASDAQ:PDD - Get Free Report) last announced 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). The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.PDD's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.57 EPS. On average, analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.
About PDD
(
Free Report)
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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