PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Acquired by M&T Bank Corp

M&T Bank Corp boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 54.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,180 shares of the company's stock after acquiring an additional 9,610 shares during the quarter. M&T Bank Corp's holdings in PDD were worth $3,217,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PDD. Farther Finance Advisors LLC grew its holdings in PDD by 30.9% in 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 period. EverSource Wealth Advisors LLC grew its holdings in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares during the period. Jones Financial Companies Lllp grew its holdings in PDD by 8.7% in 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 during the period. Generali Asset Management SPA SGR acquired a new stake in PDD in the fourth quarter valued at approximately $165,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in PDD in the fourth quarter valued at approximately $192,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PDD shares. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Macquarie reaffirmed an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. JPMorgan Chase & Co. dropped their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. China Renaissance reiterated a "hold" rating and issued a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group set a $121.00 price target on shares of PDD and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Stock Down 0.1%

NASDAQ:PDD traded down $0.06 during trading hours on Friday, reaching $104.91. 4,578,504 shares of the stock were exchanged, compared to its average volume of 10,969,478. The business has a 50-day moving average of $106.77 and a two-hundred day moving average of $108.69. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The company has a market capitalization of $146.05 billion, a price-to-earnings ratio of 11.29, a PEG 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 (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.88). The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $20.72 earnings per share. On average, research 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.