PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG has increased its stake in PDD Holdings Inc. by 37.8%, acquiring 812,925 additional shares, bringing its total to nearly 3 million shares worth approximately $350.9 million.
• Several hedge funds have significantly raised their positions in PDD, with Mirae Asset Global Investments increasing its holdings by an astounding 9,469.7% during the same quarter.
• PDD recently reported quarterly earnings of $1.37 per share, which fell short of analysts' expectations of $2.25, although its revenue of $13.19 billion represented a 10.2% year-over-year increase.

Deutsche Bank AG increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 37.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,964,909 shares of the company's stock after buying an additional 812,925 shares during the period. Deutsche Bank AG owned about 0.22% of PDD worth $350,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in shares of PDD by 5.2% in the 1st quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock valued at $4,739,595,000 after purchasing an additional 1,987,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in PDD by 9,469.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock valued at $4,695,948,000 after buying an additional 39,263,851 shares during the last quarter. Vanguard Group Inc. raised its stake in PDD by 1.5% in the first quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock valued at $3,441,556,000 after buying an additional 416,867 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after buying an additional 14,110,042 shares during the last quarter. Finally, Dragoneer Investment Group LLC boosted its position in shares of PDD by 48.8% during the 4th quarter. Dragoneer Investment Group LLC now owns 5,572,094 shares of the company's stock worth $540,437,000 after acquiring an additional 1,827,853 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. China Renaissance restated a "hold" rating and issued a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Jefferies Financial Group set a $121.00 price objective on PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Benchmark lowered their target price on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. cut their price target on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Price Performance

PDD opened at $114.19 on Friday. The stock has a market cap of $158.97 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.60 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67. The stock's 50 day simple moving average is $106.41 and its 200 day simple moving average is $110.38.

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

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