Mawer Investment Management Ltd. Buys Shares of 27,000 PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Mawer Investment Management Ltd. acquired a new stake by purchasing 27,000 shares of PDD Holdings Inc., valued at approximately $3.2 million.
• Brokerages have shown optimism for PDD, with Citigroup upgrading the stock from "neutral" to "buy" and increasing the price target from $127 to $165.
• PDD's recent earnings report revealed a missed EPS estimate of $1.37, significantly lower than the expected $2.25, while year-over-year revenue grew by 10.2% to $13.19 billion.

Mawer Investment Management Ltd. bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 27,000 shares of the company's stock, valued at approximately $3,195,000.

A number of other large investors have also recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its stake in shares of 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 purchasing an additional 1,987,935 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PDD by 9,469.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after purchasing an additional 39,263,851 shares during the period. FMR LLC lifted its stake in shares of PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake 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 purchasing an additional 14,110,042 shares during the period. Finally, FIL Ltd lifted its stake in shares of PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PDD. Citigroup raised PDD from a "neutral" rating to a "buy" rating and increased their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a research note on Tuesday, May 27th. China Renaissance reissued a "hold" rating and set a $107.00 price target on shares of PDD in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Finally, Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $144.55.

PDD Trading Down 1.4%

Shares of NASDAQ PDD opened at $116.76 on Tuesday. 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 cap of $162.55 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.66 and a beta of 0.42. The stock has a fifty day moving average price of $106.14 and a 200 day moving average price of $109.83.

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 the consensus estimate of $2.25 by ($0.88). PDD had a net margin of 24.63% and a return on equity of 33.76%. The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same quarter in the prior year, the company posted $20.72 earnings per share. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS 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.

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