PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,898 shares of the company's stock after acquiring an additional 9,862 shares during the period. IFM Investors Pty Ltd's holdings in PDD were worth $4,249,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in PDD by 9,469.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after acquiring an additional 39,263,851 shares in the last quarter. Vanguard Group Inc. grew its holdings in PDD by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock worth $2,779,986,000 after acquiring an additional 268,662 shares in the last quarter. FMR LLC grew its holdings in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares in the last quarter. Norges Bank acquired a new position in PDD during the 4th quarter worth $812,246,000. Finally, FIL Ltd grew its holdings in PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after acquiring an additional 3,350,627 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 price target on shares of PDD in a report on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Stock Down 0.6%

Shares of NASDAQ:PDD opened at $103.35 on Monday. The company has a market cap of $143.88 billion, a PE ratio of 11.12, a P/E/G ratio of 1.45 and a beta of 0.42. The company's 50-day moving average price is $106.84 and its 200 day moving average price is $108.56. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

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

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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