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PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Sold by Alps Advisors Inc.

PDD logo with Retail/Wholesale background

Alps Advisors Inc. lowered its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 14.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,463 shares of the company's stock after selling 4,096 shares during the period. Alps Advisors Inc.'s holdings in PDD were worth $2,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PDD. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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. raised its position in shares of 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 raised its position in shares of 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 stake in shares of PDD during the 4th quarter worth about $812,246,000. Finally, FIL Ltd raised its position in shares of 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. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Price Performance

PDD stock opened at $104.91 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67. The company has a market cap of $146.05 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.42. The stock's 50 day moving average price is $106.77 and its 200 day moving average price is $108.63.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Benchmark dropped their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Barclays downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and raised their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Finally, Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Seven investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $144.55.

Read Our Latest Stock Report on PDD

About PDD

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report).

Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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