Massachusetts Financial Services Co. MA Grows Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Massachusetts Financial Services Co. MA grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 87.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,084,979 shares of the company's stock after buying an additional 506,818 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.08% of PDD worth $128,407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its position in PDD by 1.3% during the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company's stock valued at $1,060,000 after buying an additional 119 shares during the period. Farther Finance Advisors LLC increased its stake in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares in the last quarter. Focus Financial Network Inc. increased its stake in shares of PDD by 6.3% in the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock worth $270,000 after acquiring an additional 136 shares in the last quarter. Cibc World Markets Corp increased its stake in PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after purchasing an additional 164 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Benchmark lowered their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Finally, Nomura reiterated a "neutral" rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Seven investment 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $144.55.

PDD Stock Performance

PDD stock traded up $1.05 during mid-day trading on Friday, reaching $109.00. 10,517,041 shares of the stock traded hands, compared to its average volume of 10,931,529. The business has a 50-day moving average price of $106.35 and a two-hundred day moving average price of $108.84. The stock has a market capitalization of $151.74 billion, a PE ratio of 11.73, a PEG ratio of 1.47 and a beta of 0.42. 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 posted its quarterly 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). PDD had a return on equity of 33.76% and a net margin of 24.63%. The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $103.37 billion. During the same quarter in the previous year, the company posted $20.72 earnings per share. The company's revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

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.