IDG China Venture Capital Fund IV Associates L.P. Has $311.38 Million Stock Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

IDG China Venture Capital Fund IV Associates L.P. reduced its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 9.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,630,982 shares of the company's stock after selling 279,448 shares during the quarter. PDD accounts for about 77.2% of IDG China Venture Capital Fund IV Associates L.P.'s investment portfolio, making the stock its biggest holding. IDG China Venture Capital Fund IV Associates L.P. owned 0.19% of PDD worth $311,377,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PDD. Hollencrest Capital Management purchased a new position in PDD during the first quarter valued at approximately $26,000. IFP Advisors Inc raised its position in shares of PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after buying an additional 290 shares during the last quarter. Farther Finance Advisors LLC increased its position in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after purchasing an additional 132 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in PDD in the fourth quarter worth $165,000. Finally, Siemens Fonds Invest GmbH bought a new position in PDD during the fourth quarter valued at $192,000. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PDD. JPMorgan Chase & Co. decreased their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. China Renaissance reiterated a "hold" rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Finally, Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, PDD presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Stock Performance

NASDAQ:PDD opened at $109.00 on Friday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $155.67. The firm has a market cap of $151.74 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The firm has a 50-day moving average price of $106.34 and a two-hundred day moving average price of $109.00.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share (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 previous year, the company earned $20.72 earnings per share. The business's quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

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.

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