Crossmark Global Holdings Inc. Has $2.66 Million Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Crossmark Global Holdings Inc. trimmed its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 12.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,510 shares of the company's stock after selling 3,305 shares during the period. Crossmark Global Holdings Inc.'s holdings in PDD were worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares in the last quarter. Jones Financial Companies Lllp lifted its position in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares during the period. Generali Asset Management SPA SGR acquired a new stake in PDD during the fourth quarter worth about $165,000. Finally, Siemens Fonds Invest GmbH bought a new position in PDD in the 4th quarter valued at about $192,000. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group set a $121.00 price target on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barclays cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. JPMorgan Chase & Co. decreased their price target on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Benchmark dropped their price objective on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Finally, Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and lifted their target price for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $144.55.

PDD Price Performance

PDD stock opened at $105.00 on Thursday. The business has a 50 day moving average of $106.91 and a 200-day moving average of $108.56. The company has a market capitalization of $146.18 billion, a P/E 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 1 year low of $87.11 and a 1 year high of $155.67.

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

About PDD

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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