Mirae Asset Global Investments Co. Ltd. grew its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 9,469.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 39,678,479 shares of the company's stock after acquiring an additional 39,263,851 shares during the quarter. PDD comprises approximately 12.4% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its largest holding. Mirae Asset Global Investments Co. Ltd. owned 2.88% of PDD worth $4,695,948,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC lifted its position in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after purchasing an additional 249 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after purchasing an additional 97 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of PDD during the fourth quarter valued at $165,000. 39.83% of the stock is currently owned by institutional investors.
PDD Stock Down 0.6%
Shares of PDD traded down $0.61 during mid-day trading on Friday, hitting $105.14. 4,076,262 shares of the company traded hands, compared to its average volume of 11,009,952. 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 capitalization of $146.37 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.47 and a beta of 0.42. The business has a 50 day moving average of $106.43 and a 200 day moving average of $108.44.
PDD (NASDAQ:PDD - Get Free Report) last posted 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). PDD had a net margin of 24.63% and a return on equity of 33.76%. The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. During the same quarter last year, the company earned $20.72 EPS. The business's revenue was up 10.2% compared to the same quarter last year. As a group, research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently weighed in on PDD. Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. lowered their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Benchmark lowered their price objective on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.
Check Out Our Latest Stock Analysis 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.
Featured Stories
Before you consider PDD, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PDD wasn't on the list.
While PDD currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
