LGT Group Foundation Increases Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• LGT Group Foundation increased its holdings in PDD Holdings by 39.9%, owning 12,379 shares worth approximately $1.47 million as of its latest SEC filing.
• Several other hedge funds have also significantly boosted their stakes in PDD, including Mirae Asset Global Investments which raised its holdings by 9,469.7%, now owning nearly 40 million shares valued at around $4.7 billion.
• PDD's latest earnings report showed an EPS of $1.37, missing analysts' estimates of $2.25, and the firm is projected to post $10.24 EPS for the current year.

LGT Group Foundation increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 39.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,379 shares of the company's stock after acquiring an additional 3,528 shares during the period. LGT Group Foundation's holdings in PDD were worth $1,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. grew its position in PDD by 5.2% during the 1st quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock worth $4,739,595,000 after acquiring an additional 1,987,935 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PDD by 9,469.7% in the 1st 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 buying an additional 39,263,851 shares during the last quarter. Vanguard Group Inc. grew its position in shares of PDD by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock valued at $3,441,556,000 after buying an additional 416,867 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after buying an additional 14,110,042 shares during the last quarter. Finally, Dragoneer Investment Group LLC grew its position in shares of PDD by 48.8% in the 4th quarter. Dragoneer Investment Group LLC now owns 5,572,094 shares of the company's stock valued at $540,437,000 after buying an additional 1,827,853 shares during the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Stock Up 3.7%

Shares of PDD stock traded up $4.21 on Friday, reaching $118.95. The company's stock had a trading volume of 10,077,227 shares, compared to its average volume of 8,883,136. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67. The company has a market capitalization of $165.60 billion, a P/E ratio of 12.80, a PEG ratio of 1.66 and a beta of 0.42. The stock's 50 day simple moving average is $108.10 and its 200-day simple moving average is $110.66.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The business had revenue of $13.19 billion during 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 company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $20.72 EPS. Research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reduced their price target on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Benchmark reduced their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Finally, Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and upped their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $144.55.

PDD 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.