Dimensional Fund Advisors LP grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,737,229 shares of the company's stock after purchasing an additional 252,537 shares during the period. Dimensional Fund Advisors LP owned about 0.27% of PDD worth $381,496,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in PDD in the 4th quarter valued at approximately $1,065,446,000. Assenagon Asset Management S.A. grew its stake in shares of PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company's stock worth $762,991,000 after buying an additional 5,070,827 shares during the last quarter. Himalaya Capital Management LLC bought a new stake in shares of PDD during the second quarter worth $482,273,000. Dodge & Cox bought a new stake in shares of PDD during the fourth quarter worth $503,429,000. Finally, Orbis Allan Gray Ltd increased its holdings in shares of PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company's stock worth $591,091,000 after buying an additional 3,250,416 shares in the last quarter. 39.83% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
PDD has been the subject of a number of research reports. Benchmark dropped their price target on PDD from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Thursday, May 28th. Sanford C. Bernstein reduced their price objective on PDD from $132.00 to $110.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 27th. Daiwa Securities Group reaffirmed a "hold" rating and issued a $80.00 target price on shares of PDD in a report on Tuesday, June 23rd. Arete Research upgraded PDD from a "neutral" rating to a "buy" rating and set a $121.00 target price for the company in a research report on Friday, April 17th. Finally, Morgan Stanley set a $129.00 target price on PDD in a research report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $124.64.
View Our Latest Stock Report on PDD
PDD Price Performance
PDD opened at $84.83 on Wednesday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.41. The company's 50 day moving average price is $85.25 and its two-hundred day moving average price is $97.20. The firm has a market capitalization of $120.75 billion and a price-to-earnings ratio of 9.16.
PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($1.02). The business had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. PDD's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 EPS. As a group, equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.
About PDD
(
Free Report)
PDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.
Further Reading
Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report).
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