PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Acquired by Swiss National Bank

Key Points

• The Swiss National Bank increased its holdings of PDD Holdings Inc. by 0.3% in Q1, owning 1,577,244 shares valued at approximately $186.67 million.
• PDD reported $1.37 earnings per share for the last quarter, missing expectations, and had a revenue of $13.19 billion, significantly under the forecast of $103.37 billion.
• Analysts have mixed ratings on PDD, with a moderate buy average rating and target prices ranging from $107.00 to $165.00 based on recent evaluations by various brokerages.

Swiss National Bank increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,577,244 shares of the company's stock after buying an additional 5,000 shares during the quarter. Swiss National Bank owned about 0.11% of PDD worth $186,667,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of PDD in the first quarter valued at $26,000. IFP Advisors Inc grew its stake in PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after purchasing an additional 290 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new stake in PDD in the 4th quarter valued at about $192,000. OneDigital Investment Advisors LLC purchased a new position in shares of PDD in the 1st quarter valued at about $204,000. Finally, Gunderson Capital Management Inc. acquired a new position in shares of PDD during the first quarter worth about $218,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PDD shares. JPMorgan Chase & Co. reduced their target price 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. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $165.00 in a report on Monday, May 12th. China Renaissance reissued a "hold" rating and issued a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Benchmark dropped their target price on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Stock Performance

Shares of PDD stock traded down $1.22 during mid-day trading on Monday, hitting $113.04. 4,441,840 shares of the stock were exchanged, compared to its average volume of 6,628,110. The stock's fifty day simple moving average is $106.76 and its two-hundred day simple moving average is $110.54. The stock has a market capitalization of $157.37 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.62 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 issued its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.88). The firm had revenue of $13.19 billion for 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% compared to the same quarter last year. During the same period in the previous year, the business posted $20.72 EPS. On average, research analysts expect 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.