Nuveen LLC acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,428,261 shares of the company's stock, valued at approximately $169,035,000. Nuveen LLC owned 0.10% of PDD as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the company. Invesco Ltd. increased its holdings in shares of PDD by 44.7% in the first quarter. Invesco Ltd. now owns 5,301,333 shares of the company's stock valued at $627,413,000 after purchasing an additional 1,636,673 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of PDD by 65.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 418,730 shares of the company's stock valued at $49,557,000 after purchasing an additional 165,987 shares during the period. Swiss National Bank increased its holdings in shares of PDD by 0.3% in the first quarter. Swiss National Bank now owns 1,577,244 shares of the company's stock valued at $186,667,000 after purchasing an additional 5,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in PDD by 10.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 708,218 shares of the company's stock worth $83,818,000 after acquiring an additional 64,427 shares during the period. Finally, Accuvest Global Advisors acquired a new stake in PDD during the first quarter worth about $421,000. 39.83% of the stock is owned by institutional investors and hedge funds.
PDD Stock Performance
NASDAQ:PDD opened at $113.04 on Tuesday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The stock has a market cap of $157.37 billion, a PE ratio of 12.17, a P/E/G ratio of 1.62 and a beta of 0.42. The stock has a 50 day moving average price of $107.09 and a 200 day moving average price of $110.56.
PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly 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). PDD had a net margin of 24.63% and a return on equity of 33.76%. The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same period in the prior year, the business posted $20.72 EPS. PDD's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Finally, China Renaissance reaffirmed a "hold" rating and set a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.
View Our Latest Research Report on PDD
PDD Company Profile
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Free Report)
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.
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