J. Safra Sarasin Holding AG Raises Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• J. Safra Sarasin Holding AG increased its stake in PDD Holdings by 148.9%, owning a total of 67,701 shares valued at $8,012,000 after purchasing 40,500 shares in Q1.
• Various hedge funds have altered their positions in PDD, with notable investments including Arizona PSPRS Trust and Resona Asset Management, contributing to a combined hedge fund ownership of 39.83% of the stock.
• Analysts have mixed ratings on PDD, with a consensus target price of $144.55, where recommendations include seven "hold" ratings and six "buy" ratings.

J. Safra Sarasin Holding AG boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 148.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,701 shares of the company's stock after buying an additional 40,500 shares during the period. J. Safra Sarasin Holding AG's holdings in PDD were worth $8,012,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PDD by 9,469.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock valued at $4,695,948,000 after purchasing an additional 39,263,851 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares during the period. Sanders Capital LLC acquired a new position in shares of PDD in the fourth quarter valued at approximately $499,972,000. FMR LLC increased its holdings in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. Finally, FIL Ltd increased its holdings in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after purchasing an additional 3,350,627 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Price Performance

PDD traded up $0.37 during trading on Tuesday, reaching $112.41. 910,565 shares of the stock were exchanged, compared to its average volume of 9,022,357. The business's 50 day moving average price is $105.58 and its two-hundred day moving average price is $110.28. The company has a market capitalization of $156.49 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.54 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The firm had revenue of $13.19 billion for the quarter, compared to analysts' expectations of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $20.72 earnings per share. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PDD. Barclays downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Macquarie restated an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and lifted their price target for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Finally, Benchmark decreased their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Seven 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 company's stock. Based on data from MarketBeat.com, PDD currently 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.