PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Liontrust Investment Partners LLP

Key Points

• Liontrust Investment Partners LLP has reduced its stake in PDD Holdings Inc. by 22.7%, now holding a total of 156,541 shares after selling 45,932 shares during the 1st quarter.
• PDD's earnings report revealed an EPS of $1.37, significantly missing the consensus estimate of $2.25, while its revenue for the quarter was $13.19 billion, underperforming against the estimated $103.37 billion.
• According to analysts, PDD currently has a consensus rating of "Moderate Buy" with a target price averaging $144.55, although various firms have issued mixed ratings.

Liontrust Investment Partners LLP cut its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 22.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,541 shares of the company's stock after selling 45,932 shares during the quarter. Liontrust Investment Partners LLP's holdings in PDD were worth $18,527,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Krane Funds Advisors LLC increased its holdings in PDD by 78.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after purchasing an additional 2,211,286 shares during the period. Myriad Asset Management US LP bought a new position in shares of PDD during the 1st quarter worth $4,496,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after buying an additional 14,110,042 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of PDD by 3,127.3% during the first quarter. WCM Investment Management LLC now owns 411,324 shares of the company's stock valued at $49,544,000 after buying an additional 398,579 shares during the period. Finally, TB Alternative Assets Ltd. raised its holdings in shares of PDD by 15.4% in the first quarter. TB Alternative Assets Ltd. now owns 199,887 shares of the company's stock valued at $23,657,000 after acquiring an additional 26,739 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

PDD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Benchmark reduced their price objective on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. JPMorgan Chase & Co. dropped their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, China Renaissance reiterated a "hold" rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Price Performance

NASDAQ:PDD traded down $1.07 during trading hours on Wednesday, hitting $118.00. 5,631,688 shares of the company were exchanged, compared to its average volume of 6,286,508. The company's 50 day moving average price is $109.43 and its 200-day moving average price is $110.82. The stock has a market capitalization of $164.27 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.69 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The company had revenue of $13.19 billion for the quarter, compared to analysts' expectations of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. PDD's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $20.72 earnings per share. On average, equities analysts predict 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.