Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 126.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,609,370 shares of the company's stock after acquiring an additional 898,639 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.11% of PDD worth $164,445,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Focus Partners Wealth grew its position in PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock worth $1,176,000 after acquiring an additional 7,744 shares during the last quarter. Intech Investment Management LLC grew its holdings in PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock worth $1,762,000 after acquiring an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in PDD by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company's stock worth $174,000 after acquiring an additional 637 shares during the last quarter. Cerity Partners LLC grew its holdings in PDD by 2.0% during the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company's stock worth $2,061,000 after acquiring an additional 382 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in PDD by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company's stock valued at $14,914,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.
PDD Stock Down 0.8%
Shares of PDD stock opened at $82.66 on Friday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The firm has a fifty day moving average of $84.42 and a 200-day moving average of $96.67. The firm has a market capitalization of $117.66 billion and a price-to-earnings ratio of 8.93.
PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts' consensus estimates of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the prior year, the business earned $1.57 EPS. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current year.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Benchmark dropped their target price on shares of 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 decreased their price target on shares of PDD from $132.00 to $110.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 27th. Arete Research raised shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 price target for the company in a report on Friday, April 17th. Daiwa Securities Group restated a "hold" rating and issued a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Finally, Morgan Stanley set a $129.00 price objective on PDD in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $124.64.
Check Out Our Latest Report on PDD
PDD Profile
(
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.
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