Crossmark Global Holdings Inc. Decreases Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Crossmark Global Holdings Inc. decreased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 12.8% during the first quarter, according to its most recent 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 SEC filing.

A number of other large investors have also recently modified their holdings of PDD. Krane Funds Advisors LLC boosted its stake in PDD by 78.3% during the first quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after acquiring an additional 2,211,286 shares in the last quarter. Renaissance Technologies LLC boosted its stake in PDD by 56.3% during the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock worth $91,898,000 after acquiring an additional 341,300 shares in the last quarter. Myriad Asset Management US LP bought a new stake in PDD during the first quarter worth about $4,496,000. FMR LLC raised its holdings in PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after buying an additional 4,673,022 shares during the last quarter. Finally, Sanders Capital LLC purchased a new position in PDD in the fourth quarter worth about $499,972,000. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Nomura reissued a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the company a "buy" rating in a report on Tuesday, May 27th. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and boosted 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Trading Down 0.1%

Shares of NASDAQ:PDD traded down $0.06 during midday trading on Friday, reaching $104.91. 4,578,504 shares of the company were exchanged, compared to its average volume of 10,969,478. The business's fifty day moving average is $106.77 and its two-hundred day moving average is $108.69. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The stock has a market cap of $146.05 billion, a PE 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 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). The company had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. PDD's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $20.72 EPS. As a group, sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

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.