H&H International Investment LLC raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 71.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,748,294 shares of the company's stock after purchasing an additional 8,211,600 shares during the quarter. PDD comprises 10.1% of H&H International Investment LLC's investment portfolio, making the stock its 4th biggest position. H&H International Investment LLC owned 1.39% of PDD worth $2,017,881,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of PDD by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company's stock valued at $3,720,397,000 after buying an additional 425,908 shares during the period. Norges Bank acquired a new stake in shares of PDD in the fourth quarter valued at $1,065,446,000. Geode Capital Management LLC grew its position in shares of PDD by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company's stock worth $761,720,000 after buying an additional 359,921 shares in the last quarter. Krane Funds Advisors LLC raised its holdings in shares of PDD by 4.2% in the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company's stock valued at $725,465,000 after purchasing an additional 258,888 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in PDD by 94.6% during the 1st quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company's stock worth $643,920,000 after buying an additional 3,063,694 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PDD has been the subject of several recent analyst reports. Barclays downgraded shares of PDD from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Zacks Research lowered shares of PDD from a "hold" rating to a "strong sell" rating in a research note on Monday. Nomura downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Arete Research raised 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. Finally, Benchmark reduced their price objective 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. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $124.64.
Read Our Latest Stock Analysis on PDD
PDD Trading Up 3.0%
Shares of NASDAQ:PDD opened at $88.32 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The stock's 50-day moving average price is $83.79 and its two-hundred day moving average price is $95.76. The firm has a market cap of $125.71 billion and a price-to-earnings ratio of 9.54.
PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The firm had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal 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.
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