Krane Funds Advisors LLC Has $596.06 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Krane Funds Advisors LLC grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 78.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,036,389 shares of the company's stock after acquiring an additional 2,211,286 shares during the period. PDD accounts for 17.1% of Krane Funds Advisors LLC's portfolio, making the stock its largest holding. Krane Funds Advisors LLC owned about 0.37% of PDD worth $596,057,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after buying an additional 249 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after buying an additional 97 shares in the last quarter. Generali Asset Management SPA SGR acquired a new position in PDD during the 4th quarter worth $165,000. Finally, Plato Investment Management Ltd acquired a new position in PDD during the 4th quarter worth $189,000. Institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PDD. JPMorgan Chase & Co. reduced their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and set a $107.00 price objective on shares of PDD in a report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the company a "buy" rating in a research report on Tuesday, May 27th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 price objective on shares of PDD in a research note on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Trading Down 0.6%

Shares of PDD stock traded down $0.62 on Friday, hitting $103.35. The stock had a trading volume of 2,746,257 shares, compared to its average volume of 10,973,601. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The firm has a market cap of $143.88 billion, a P/E ratio of 11.12, a PEG ratio of 1.46 and a beta of 0.42. The company has a fifty day moving average price of $106.85 and a two-hundred day moving average price of $108.46.

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

About PDD

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.