GF Fund Management CO. LTD. Decreases Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

GF Fund Management CO. LTD. cut its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 981,853 shares of the company's stock after selling 342,950 shares during the period. PDD makes up 2.7% of GF Fund Management CO. LTD.'s portfolio, making the stock its 7th biggest position. GF Fund Management CO. LTD. owned about 0.07% of PDD worth $116,202,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PDD. Farther Finance Advisors LLC lifted its stake in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after purchasing an additional 97 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in PDD during the fourth quarter valued at approximately $165,000. Finally, Siemens Fonds Invest GmbH bought a new position in PDD during the fourth quarter valued at approximately $192,000. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

Shares of PDD stock traded down $0.62 during trading hours on Friday, reaching $103.35. 2,746,257 shares of the company traded hands, compared to its average volume of 10,973,601. The firm has a 50-day moving average price of $106.85 and a 200 day moving average price of $108.46. The company has a market cap of $143.88 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.45 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last announced 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). The firm had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The business's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned $20.72 earnings per share. Sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Analysts Set New Price Targets

PDD has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price 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. China Renaissance reiterated a "hold" rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and raised their target price for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. Macquarie restated an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Finally, Benchmark lowered their price objective on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PDD presently has an average rating of "Moderate Buy" and an average price target of $144.55.

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.