PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Sold by PARUS FINANCE UK Ltd

Key Points

• PDD Holdings Inc. experienced a 9.9% decrease in holdings by PARUS FINANCE UK Ltd, which sold 21,730 shares, bringing its stake to 197,984 shares valued at approximately $23.4 million.
• Mirae Asset Global Investments significantly increased its stake in PDD by 9,469.7%, now owning nearly 39.7 million shares worth approximately $4.7 billion.
• PDD's stock is currently rated with a consensus of "Moderate Buy"** and has a target price of $144.55, reflecting various analysts' perspectives on its market performance.

PARUS FINANCE UK Ltd decreased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,984 shares of the company's stock after selling 21,730 shares during the quarter. PDD makes up approximately 8.0% of PARUS FINANCE UK Ltd's holdings, making the stock its 6th biggest holding. PARUS FINANCE UK Ltd's holdings in PDD were worth $23,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Allianz SE grew its stake in PDD by 554.6% in the 1st quarter. Allianz SE now owns 26,264 shares of the company's stock valued at $3,108,000 after buying an additional 22,252 shares during the last quarter. J. Safra Sarasin Holding AG raised its stake in shares of PDD by 148.9% in the 1st quarter. J. Safra Sarasin Holding AG now owns 67,701 shares of the company's stock valued at $8,012,000 after buying an additional 40,500 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its stake in PDD by 24.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 383,680 shares of the company's stock valued at $45,424,000 after acquiring an additional 74,395 shares during the period. Jupiter Asset Management Ltd. raised its stake in PDD by 137.1% during the first quarter. Jupiter Asset Management Ltd. now owns 29,209 shares of the company's stock worth $3,457,000 after acquiring an additional 16,892 shares in the last quarter. Finally, Headwater Capital Co Ltd grew its holdings in shares of PDD by 100.0% in the 1st quarter. Headwater Capital Co Ltd now owns 200,000 shares of the company's stock worth $23,670,000 after purchasing an additional 100,000 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PDD. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 target price on shares of PDD in a research report on Wednesday, May 28th. Finally, China Renaissance restated a "hold" rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Trading Up 1.2%

PDD traded up $1.32 during trading on Wednesday, hitting $113.94. The company's stock had a trading volume of 4,367,038 shares, compared to its average volume of 6,560,750. The business's fifty day simple moving average is $105.77 and its 200 day simple moving average is $110.29. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The firm has a market capitalization of $158.62 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.58 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $20.72 earnings per share. As a group, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

PDD Company 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.