Mitsubishi UFJ Trust & Banking Corp Has $68.60 Million Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in PDD Holdings Inc. by 1.3%, now holding $68.60 million in shares after selling 7,650 shares in the first quarter.
• Major institutional investors, including Krane Funds Advisors, increased their stakes in PDD, with Krane boosting its holdings by 78.3%, now owning over 5 million shares valued at approximately $596 million.
• PDD's recent earnings report revealed an EPS of $1.37, falling short of estimates, while the company expects an EPS of 10.24 for the current year amid a 10.2% increase in quarterly revenue compared to last year.

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,652 shares of the company's stock after selling 7,650 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in PDD were worth $68,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in PDD during the 1st quarter valued at $26,000. IFP Advisors Inc increased its holdings in PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after purchasing an additional 290 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in PDD in the 1st quarter valued at $204,000. Gunderson Capital Management Inc. bought a new position in PDD in the 1st quarter valued at $218,000. Finally, First Affirmative Financial Network bought a new position in PDD in the 1st quarter valued at $218,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent research reports. Jefferies Financial Group set a $121.00 price objective on PDD and gave the company a "buy" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. China Renaissance reiterated a "hold" rating and issued a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Benchmark decreased their price objective on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report 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 analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PDD has an average rating of "Moderate Buy" and an average price target of $144.55.

PDD Trading Up 0.3%

Shares of NASDAQ:PDD traded up $0.34 during midday trading on Tuesday, hitting $112.38. The company had a trading volume of 910,565 shares, compared to its average volume of 9,022,357. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The stock has a market cap of $156.45 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.54 and a beta of 0.42. The firm has a fifty day simple moving average of $105.58 and a 200 day simple moving average of $110.28.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.88). The business had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $20.72 EPS. Equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.

PDD 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.