Los Angeles Capital Management LLC grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,366 shares of the company's stock after purchasing an additional 4,539 shares during the period. Los Angeles Capital Management LLC's holdings in PDD were worth $7,973,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in PDD. Hollencrest Capital Management bought a new stake in PDD during the first quarter valued at approximately $26,000. IFP Advisors Inc lifted its position in 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 purchasing an additional 290 shares during the last quarter. Farther Finance Advisors LLC lifted its position in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after purchasing an additional 132 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in PDD during the first quarter valued at approximately $204,000. Finally, Gunderson Capital Management Inc. bought a new stake in PDD during the first quarter valued at approximately $218,000. Hedge funds and other institutional investors own 39.83% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Benchmark decreased their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the stock a "buy" rating in a research note on Tuesday, May 27th. China Renaissance reaffirmed a "hold" rating and issued a $107.00 target price on shares of PDD in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. Finally, Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average price target of $144.55.
Check Out Our Latest Stock Analysis on PDD
PDD Price Performance
PDD stock traded up $0.16 during mid-day trading on Thursday, reaching $118.62. The stock had a trading volume of 6,297,523 shares, compared to its average volume of 9,228,757. The company has a market capitalization of $165.13 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.61 and a beta of 0.42. The company has a 50-day moving average price of $106.15 and a two-hundred day moving average price of $109.30. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67.
PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $20.72 EPS. On average, equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.
PDD Profile
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Free Report)
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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