PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) is E Fund Management Hong Kong Co. Ltd.'s Largest Position

E Fund Management Hong Kong Co. Ltd. cut its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 30.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 281,551 shares of the company's stock after selling 123,525 shares during the quarter. PDD accounts for approximately 29.9% of E Fund Management Hong Kong Co. Ltd.'s holdings, making the stock its biggest holding. E Fund Management Hong Kong Co. Ltd.'s holdings in PDD were worth $33,322,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake in shares of PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC grew its holdings in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after purchasing an additional 249 shares during the period. Jones Financial Companies Lllp increased its holdings 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 purchasing an additional 97 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new stake in PDD in the 4th quarter worth approximately $165,000. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

PDD stock traded down $0.61 during trading on Friday, hitting $105.14. 4,076,262 shares of the stock traded hands, compared to its average volume of 11,005,351. The firm's 50 day moving average is $106.20 and its two-hundred day moving average is $108.40. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67. The stock has a market cap of $146.37 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.50 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 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 business had revenue of $13.19 billion for the quarter, compared to analysts' expectations of $103.37 billion. During the same quarter in the prior year, the business posted $20.72 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Barclays cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Benchmark reduced their target price on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, Nomura restated a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Seven investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $144.55.

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.