China Universal Asset Management Co. Ltd. Acquires 5,982 Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

China Universal Asset Management Co. Ltd. boosted its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 55.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,852 shares of the company's stock after buying an additional 5,982 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in PDD were worth $1,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Krane Funds Advisors LLC lifted its holdings in PDD by 78.3% in the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock valued at $596,057,000 after acquiring an additional 2,211,286 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in PDD by 56.3% in the 4th quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock valued at $91,898,000 after acquiring an additional 341,300 shares during the last quarter. Myriad Asset Management US LP acquired a new stake in PDD in the 1st quarter valued at about $4,496,000. FMR LLC lifted its holdings in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PDD by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 380,638 shares of the company's stock valued at $36,918,000 after acquiring an additional 16,680 shares during the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Stock Down 0.1%

PDD stock traded down $0.06 during midday trading on Friday, hitting $104.91. 4,578,504 shares of the company traded hands, compared to its average volume of 10,960,997. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The business has a 50 day simple moving average of $106.77 and a 200-day simple moving average of $108.63. The stock has a market capitalization of $146.05 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly 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 net margin of 24.63% and a return on equity of 33.76%. The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. During the same quarter last year, the business earned $20.72 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on PDD. China Renaissance reaffirmed a "hold" rating and set a $107.00 price objective on shares of PDD in a research note on Wednesday, May 28th. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and upped their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Macquarie reaffirmed an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Finally, Benchmark reduced their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PDD has an average rating of "Moderate Buy" and a consensus price target 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.