China Universal Asset Management Co. Ltd. Increases Stock Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

China Universal Asset Management Co. Ltd. boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 55.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,852 shares of the company's stock after purchasing an additional 5,982 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in PDD were worth $1,994,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. US Bancorp DE boosted its position in shares of PDD by 14.2% in the 4th quarter. US Bancorp DE now owns 9,079 shares of the company's stock worth $881,000 after purchasing an additional 1,127 shares in the last quarter. Jones Financial Companies Lllp increased its position in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after buying an additional 97 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in PDD by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 927,788 shares of the company's stock valued at $89,986,000 after buying an additional 23,772 shares during the last quarter. M&T Bank Corp boosted its holdings in PDD by 11.0% in the fourth quarter. M&T Bank Corp now owns 17,570 shares of the company's stock worth $1,704,000 after acquiring an additional 1,740 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of PDD during the fourth quarter worth about $3,114,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PDD has been the subject of several research analyst reports. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and increased their price objective for the company from $127.00 to $165.00 in a research report on Monday, May 12th. China Renaissance restated a "hold" rating and set a $107.00 price target on shares of PDD in a research note on Wednesday, May 28th. Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price objective on shares of PDD in a report on Wednesday, May 28th. Finally, 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 research note on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $144.55.

PDD Stock Performance

NASDAQ PDD traded down $0.13 on Thursday, reaching $104.87. 2,429,096 shares of the company's stock traded hands, compared to its average volume of 10,935,826. The stock has a 50 day moving average price of $106.91 and a 200-day moving average price of $108.56. The firm has a market cap of $145.99 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.49 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 earnings per share (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 during the quarter, compared to analyst estimates of $103.37 billion. During the same period last year, the firm earned $20.72 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate 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.