National Pension Service Sells 8,243 Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• The National Pension Service reduced its stake in PDD Holdings Inc. by 4.5%, selling 8,243 shares and now holds 173,068 shares valued at approximately $20.48 million.
• Analysts have mixed ratings on PDD, with an average target price of $144.55, and notable revisions include JPMorgan lowering their target from $125.00 to $105.00.
• PDD reported earnings of $1.37 per share, missing estimates, and had a revenue of $13.19 billion for the latest quarter, significantly lower than analysts' expectations.

National Pension Service trimmed its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,068 shares of the company's stock after selling 8,243 shares during the period. National Pension Service's holdings in PDD were worth $20,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Signaturefd LLC raised its holdings in shares of PDD by 1.3% in the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company's stock worth $1,060,000 after acquiring an additional 119 shares during the last quarter. Focus Financial Network Inc. increased its holdings in PDD by 6.3% during the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock worth $270,000 after purchasing an additional 136 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of PDD by 11.5% in the first quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock worth $228,000 after purchasing an additional 199 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of PDD in the first quarter valued at approximately $26,000. Finally, AE Wealth Management LLC boosted its position in shares of PDD by 3.8% during the first quarter. AE Wealth Management LLC now owns 6,209 shares of the company's stock valued at $735,000 after buying an additional 229 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PDD. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. 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 research report on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and issued a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Finally, Barclays cut shares of 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 given a strong buy rating to the company. Based on data from MarketBeat, PDD currently has an average rating of "Moderate Buy" and an average target price of $144.55.

PDD Stock Up 3.7%

Shares of PDD stock opened at $118.95 on Friday. The firm has a market cap of $165.60 billion, a P/E ratio of 12.80, a PEG ratio of 1.63 and a beta of 0.42. The company has a 50 day moving average of $108.47 and a 200-day moving average of $110.71. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share (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 firm had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $103.37 billion. During the same period in the prior year, the business earned $20.72 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.