Charles Schwab Investment Management Inc. Increases Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in PDD Holdings Inc. by 7.5%, acquiring an additional 69,631 shares, bringing its total ownership to approximately 0.07% valued at $118.05 million.
• PDD Holdings reported an EPS of $1.37 for the latest quarter, which was below analysts' estimates of $2.25, and had a 10.2% year-over-year revenue growth.
• Various institutional investors are actively adjusting their positions in PDD, with ownership from institutional investors totaling approximately 39.83% of the company’s stock.

Charles Schwab Investment Management Inc. raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 997,419 shares of the company's stock after purchasing an additional 69,631 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.07% of PDD worth $118,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new position in PDD during the 1st quarter worth $26,000. IFP Advisors Inc grew 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 purchasing an additional 290 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of PDD during the 4th quarter worth about $192,000. OneDigital Investment Advisors LLC acquired a new position in shares of PDD during the 1st quarter worth about $204,000. Finally, Gunderson Capital Management Inc. acquired a new position in shares of PDD during the 1st quarter worth about $218,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

PDD has been the subject of several analyst reports. Barclays cut PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $112.00 target price on shares of PDD 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. 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. Finally, Benchmark reduced their target price on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Price Performance

Shares of PDD stock traded up $4.28 during trading hours on Friday, reaching $119.02. 7,493,648 shares of the company's stock were exchanged, compared to its average volume of 8,865,526. The company has a market cap of $165.69 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42. The company's 50 day moving average is $108.10 and its two-hundred day moving average is $110.66. 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 issued its earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a net margin of 24.63% and a return on equity of 33.76%. The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same quarter in the previous year, the business posted $20.72 EPS. PDD's revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal 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.