Northern Trust Corp Has $379.38 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Northern Trust Corp reduced its shareholding in PDD Holdings Inc. by 1.0%, now owning approximately 3.2 million shares valued at $379.4 million.
• A variety of hedge funds have made adjustments to their positions in PDD, with notable increases from IFP Advisors Inc (245.8% increase) and new stakes from OneDigital Investment Advisors LLC and Gunderson Capital Management Inc.
• PDD's recent earnings report showed an EPS of $1.37, falling short of estimates, with a quarterly revenue increase of 10.2% year-over-year.

Northern Trust Corp trimmed its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 1.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,205,604 shares of the company's stock after selling 31,082 shares during the period. Northern Trust Corp owned approximately 0.23% of PDD worth $379,383,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its stake in shares of PDD by 5.2% in the 1st quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock valued at $4,739,595,000 after purchasing an additional 1,987,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of PDD by 9,469.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock valued at $4,695,948,000 after purchasing an additional 39,263,851 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PDD by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock valued at $3,441,556,000 after purchasing an additional 416,867 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares in the last quarter. Finally, Dragoneer Investment Group LLC boosted its stake in shares of PDD by 48.8% in the 4th quarter. Dragoneer Investment Group LLC now owns 5,572,094 shares of the company's stock valued at $540,437,000 after purchasing an additional 1,827,853 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the topic of several recent analyst reports. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Benchmark reduced their target price on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Macquarie restated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold 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 Price Performance

Shares of PDD stock traded up $4.15 on Friday, hitting $127.11. 20,130,840 shares of the company's stock traded hands, compared to its average volume of 6,230,717. The firm's 50-day moving average price is $110.35 and its two-hundred day moving average price is $111.03. The stock has a market capitalization of $176.96 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last issued its earnings results 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 the consensus estimate of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $20.72 EPS. On average, analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share 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.