Global Endowment Management LP lowered its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 68.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,035 shares of the company's stock after selling 8,941 shares during the period. Global Endowment Management LP's holdings in PDD were worth $478,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PDD. Signaturefd LLC lifted its holdings in PDD by 1.3% during the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company's stock worth $1,060,000 after buying an additional 119 shares during the last quarter. Focus Financial Network Inc. lifted its holdings in PDD by 6.3% during the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock worth $270,000 after buying an additional 136 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in PDD by 11.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock worth $228,000 after buying an additional 199 shares during the last quarter. Hollencrest Capital Management bought a new position in PDD during the 1st quarter worth approximately $26,000. Finally, AE Wealth Management LLC lifted its holdings in PDD by 3.8% during the 1st quarter. AE Wealth Management LLC now owns 6,209 shares of the company's stock worth $735,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.
PDD Trading Up 3.7%
Shares of PDD stock opened at $118.95 on Friday. The business's 50 day simple moving average is $108.47 and its 200-day simple moving average is $110.71. The stock has a market capitalization of $165.60 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.63 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month 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 for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%. The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. During the same quarter in the previous year, the company posted $20.72 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have commented on PDD. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Macquarie reaffirmed an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. China Renaissance reaffirmed a "hold" rating and set a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PDD presently has an average rating of "Moderate Buy" and a consensus target price of $144.55.
Read Our Latest Report on PDD
PDD Profile
(
Free Report)
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.
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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