PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Holdings Lifted by All Stars Investment Ltd

All Stars Investment Ltd boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 133.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,500 shares of the company's stock after buying an additional 54,000 shares during the quarter. PDD makes up approximately 3.4% of All Stars Investment Ltd's investment portfolio, making the stock its 3rd biggest holding. All Stars Investment Ltd's holdings in PDD were worth $11,184,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC increased its holdings in PDD by 78.3% during the first quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock valued at $596,057,000 after buying an additional 2,211,286 shares during the period. Renaissance Technologies LLC increased its holdings in PDD by 56.3% during the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock valued at $91,898,000 after buying an additional 341,300 shares during the period. Myriad Asset Management US LP purchased a new position in PDD during the first quarter valued at approximately $4,496,000. FMR LLC increased its holdings in PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after buying an additional 4,673,022 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PDD by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 380,638 shares of the company's stock valued at $36,918,000 after buying an additional 16,680 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Down 0.0%

PDD stock traded down $0.05 during mid-day trading on Thursday, reaching $104.95. 2,429,096 shares of the company's stock were exchanged, compared to its average volume of 10,935,945. The company has a market cap of $146.11 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.49 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The company has a fifty day moving average of $106.91 and a 200-day moving average of $108.56.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results 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 return on equity of 33.76% and a net margin of 24.63%. The business had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. During the same quarter last year, the company earned $20.72 earnings per share. PDD's quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Benchmark decreased their price objective on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. Finally, China Renaissance reaffirmed a "hold" rating and set a $107.00 price objective on shares of PDD in a research note 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. Based on data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD 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.