May Hill Capital LLC Invests $506,000 in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

May Hill Capital LLC acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,279 shares of the company's stock, valued at approximately $506,000.

A number of other large investors have also added to or reduced their stakes in PDD. US Bancorp DE raised its position in PDD by 14.2% during the fourth quarter. US Bancorp DE now owns 9,079 shares of the company's stock valued at $881,000 after purchasing an additional 1,127 shares in the last quarter. Jones Financial Companies Lllp raised its position in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after purchasing an additional 97 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PDD by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 927,788 shares of the company's stock worth $89,986,000 after buying an additional 23,772 shares during the period. M&T Bank Corp increased its holdings in shares of PDD by 11.0% in the fourth quarter. M&T Bank Corp now owns 17,570 shares of the company's stock worth $1,704,000 after buying an additional 1,740 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of PDD in the fourth quarter worth about $3,114,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on PDD shares. Citigroup raised PDD from a "neutral" rating to a "buy" rating and raised their target price for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. JPMorgan Chase & Co. cut their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Barclays cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. China Renaissance reissued a "hold" rating and issued a $107.00 target price on shares of PDD in a research note on Wednesday, May 28th. Finally, Macquarie reissued an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Seven 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Stock Performance

Shares of PDD traded down $0.06 during mid-day trading on Friday, reaching $104.91. The company had a trading volume of 4,578,504 shares, compared to its average volume of 10,960,997. The firm has a 50-day moving average price of $106.77 and a 200 day moving average price of $108.63. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $155.67. The company has a market capitalization of $146.05 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.42.

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). PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $103.37 billion. During the same quarter in the previous year, the firm earned $20.72 earnings per share. PDD's revenue was up 10.2% on a year-over-year basis. As a group, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal 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.