OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 24.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,680 shares of the company's stock after buying an additional 74,395 shares during the quarter. PDD comprises approximately 1.2% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 16th biggest position. OVERSEA CHINESE BANKING Corp Ltd's holdings in PDD were worth $45,424,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in PDD. Jupiter Asset Management Ltd. lifted its position in shares of PDD by 137.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 29,209 shares of the company's stock worth $3,457,000 after buying an additional 16,892 shares during the last quarter. Headwater Capital Co Ltd lifted its holdings in shares of PDD by 100.0% in the first quarter. Headwater Capital Co Ltd now owns 200,000 shares of the company's stock worth $23,670,000 after acquiring an additional 100,000 shares during the last quarter. Alberta Investment Management Corp grew its holdings in shares of PDD by 2.4% during the 1st quarter. Alberta Investment Management Corp now owns 194,656 shares of the company's stock valued at $23,038,000 after purchasing an additional 4,596 shares during the last quarter. US Bancorp DE increased its position in PDD by 12.5% during the 1st quarter. US Bancorp DE now owns 10,217 shares of the company's stock worth $1,209,000 after purchasing an additional 1,138 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in PDD in the 1st quarter valued at approximately $3,719,000. Institutional investors own 39.83% of the company's stock.
PDD Stock Up 1.8%
PDD stock traded up $1.98 during mid-day trading on Monday, reaching $112.04. 3,833,438 shares of the company traded hands, compared to its average volume of 6,733,549. The stock has a market cap of $155.98 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.54 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The firm's 50 day moving average price is $105.72 and its 200 day moving average price is $110.23.
PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $103.37 billion. During the same period in the previous year, the company posted $20.72 earnings per share. The company's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.
Analysts Set New Price Targets
PDD has been the subject of several research analyst reports. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. JPMorgan Chase & Co. lowered their target price on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Benchmark dropped their target price on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. China Renaissance restated a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Finally, Jefferies Financial Group set a $121.00 price objective on PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.
Check Out Our Latest Stock Analysis on PDD
PDD Company Profile
(
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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