Panview Capital Ltd Sells 70,000 Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Panview Capital Ltd has reduced its stake in PDD Holdings Inc. by 30.3%, selling 70,000 shares in the first quarter, leaving it with 160,700 shares which account for 7.2% of its portfolio.
• PDD Holdings reported a quarterly earnings miss with earnings per share at $1.37, significantly below the estimated $2.25, despite a 10.2% increase in revenue year-over-year.
• Amid recent price target adjustments, Citigroup upgraded PDD from a "neutral" to a "buy" rating, raising its price target to $165.00, while analysts maintain an average rating of "Moderate Buy" with a target of $144.55.

Panview Capital Ltd cut its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 30.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,700 shares of the company's stock after selling 70,000 shares during the quarter. PDD makes up 7.2% of Panview Capital Ltd's portfolio, making the stock its 7th largest holding. Panview Capital Ltd's holdings in PDD were worth $19,019,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Avantax Advisory Services Inc. acquired a new stake in shares of PDD during the 1st quarter worth approximately $225,000. ANTIPODES PARTNERS Ltd raised its stake in shares of PDD by 1.0% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 136,748 shares of the company's stock worth $16,185,000 after purchasing an additional 1,369 shares in the last quarter. AE Wealth Management LLC boosted its holdings in shares of PDD by 3.8% in the 1st 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. Advisors Preferred LLC boosted its position in PDD by 757.3% during the first quarter. Advisors Preferred LLC now owns 2,169 shares of the company's stock worth $265,000 after purchasing an additional 1,916 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its position in PDD by 1.2% during the first quarter. KLP Kapitalforvaltning AS now owns 157,200 shares of the company's stock worth $18,605,000 after purchasing an additional 1,800 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

Shares of NASDAQ PDD opened at $118.21 on Friday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The business's fifty day moving average price is $106.15 and its 200-day moving average price is $109.43. The stock has a market capitalization of $164.57 billion, a PE ratio of 12.72, a P/E/G ratio of 1.66 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings data 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 net margin of 24.63% and a return on equity of 33.76%. The company had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. During the same quarter in the previous year, the firm posted $20.72 earnings per share. The business's revenue for the quarter 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 fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and raised their price target for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 price objective on PDD and gave the company a "buy" rating in a report on Tuesday, May 27th. Benchmark cut their target price on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Finally, Macquarie reaffirmed an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Seven equities research 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $144.55.

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.

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