Pacer Advisors Inc. Sells 25,934 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Pacer Advisors cut its PDD Holdings position by 53.5% in the first quarter, selling 25,934 shares and retaining 22,554 shares valued at approximately $2.3 million.
• Analyst sentiment is mixed, with seven Buy, seven Hold, and two Sell ratings; the stock has a consensus “Hold” rating and a $124.64 target price.
• PDD recently missed quarterly earnings and revenue estimates, reporting $1.38 in earnings per share versus the $2.40 consensus and $15.41 billion in revenue versus $15.92 billion expected, despite 11% year-over-year revenue growth.

Pacer Advisors Inc. reduced its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 53.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,554 shares of the company's stock after selling 25,934 shares during the quarter. Pacer Advisors Inc.'s holdings in PDD were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PDD. Binnacle Investments Inc grew its stake in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC raised its stake in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock valued at $43,000 after acquiring an additional 263 shares during the period. Wexford Capital LP purchased a new stake in PDD during the third quarter valued at about $44,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in PDD during the fourth quarter valued at about $44,000. Finally, Larson Financial Group LLC boosted its position in PDD by 720.4% during the third quarter. Larson Financial Group LLC now owns 402 shares of the company's stock worth $53,000 after purchasing an additional 353 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PDD shares. Daiwa Securities Group reiterated a "hold" rating and issued a $80.00 target price on shares of PDD in a research note on Tuesday, June 23rd. BNP Paribas Exane began coverage on shares of PDD in a research note on Monday, June 15th. They set an "underperform" rating and a $89.00 price target on the stock. Barclays downgraded shares of PDD from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. The Goldman Sachs Group reissued a "buy" rating on shares of PDD in a report on Thursday, May 28th. Finally, Jefferies Financial Group restated a "buy" rating on shares of PDD in a research report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, PDD presently has an average rating of "Hold" and a consensus target price of $124.64.

PDD Stock Performance

NASDAQ:PDD opened at $91.76 on Friday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.41. The stock has a fifty day moving average of $83.65 and a 200 day moving average of $94.79. The firm has a market capitalization of $130.61 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.74 and a beta of 0.02.

PDD (NASDAQ:PDD - Get Free Report) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts' consensus estimates of $2.40 by ($1.02). The business had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.PDD's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. Equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

PDD Profile

PDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

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