Carrhae Capital LLP Grows Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Carrhae Capital LLP increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 226.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 196,437 shares of the company's stock after purchasing an additional 136,217 shares during the quarter. PDD makes up approximately 1.7% of Carrhae Capital LLP's portfolio, making the stock its 13th biggest holding. Carrhae Capital LLP's holdings in PDD were worth $23,248,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of PDD by 9,469.7% in 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 purchasing an additional 39,263,851 shares during the period. Vanguard Group Inc. grew its position in shares of PDD by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock valued at $2,779,986,000 after purchasing an additional 268,662 shares in the last quarter. FMR LLC grew its position in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of 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 valued at $1,706,527,000 after purchasing an additional 14,110,042 shares during the period. Finally, Norges Bank purchased a new stake in PDD during the 4th quarter worth about $812,246,000. Institutional investors own 39.83% of the company's stock.

PDD Price Performance

NASDAQ PDD traded up $1.05 during trading on Friday, hitting $109.00. 10,523,399 shares of the company's stock traded hands, compared to its average volume of 10,931,551. The stock has a fifty day moving average of $106.35 and a two-hundred day moving average of $108.84. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67. The firm has a market cap of $151.74 billion, a P/E ratio of 11.73, a PEG ratio of 1.47 and a beta of 0.42.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PDD shares. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Jefferies Financial Group set a $121.00 price target on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. 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. Finally, Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and upped their price target for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and an average target price of $144.55.

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.