American Century Companies Inc. Has $71.39 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• American Century Companies Inc. increased its holdings in PDD Holdings by 10.8%, owning 603,184 shares valued at approximately $71.39 million at the end of the first quarter.
• PDD Holdings recently reported a quarterly EPS of $1.37, missing analysts' expectations of $2.25, with revenue of $13.19 billion, which was lower than the projected $103.37 billion.
• Analysts have mixed ratings on PDD, with a consensus of "Moderate Buy" and an average target price of $144.55, reflecting varied perspectives on its future performance.

American Century Companies Inc. grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 603,184 shares of the company's stock after acquiring an additional 59,025 shares during the period. American Century Companies Inc.'s holdings in PDD were worth $71,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Hollencrest Capital Management bought a new stake in PDD in the first quarter worth $26,000. IFP Advisors Inc lifted its position in shares of PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after buying an additional 290 shares during the last quarter. Siemens Fonds Invest GmbH bought a new stake in shares of PDD during the 4th quarter worth about $192,000. OneDigital Investment Advisors LLC acquired a new position in shares of PDD during the 1st quarter valued at about $204,000. Finally, Gunderson Capital Management Inc. acquired a new position in shares of PDD during the 1st quarter valued at about $218,000. Institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. China Renaissance reiterated a "hold" rating and issued a $107.00 target price on shares of PDD in a research note on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, PDD presently has an average rating of "Moderate Buy" and an average target price of $144.55.

PDD Stock Up 3.4%

PDD traded up $4.15 during trading on Friday, reaching $127.11. 20,130,840 shares of the company's stock were exchanged, compared to its average volume of 8,930,558. The company has a market capitalization of $176.96 billion, a P/E ratio of 13.68, a PEG ratio of 1.68 and a beta of 0.42. The business has a 50 day moving average price of $109.82 and a 200 day moving average price of $110.94. 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 released its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%.The business had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. During the same period in the previous year, the business posted $20.72 earnings per share. PDD's revenue was up 10.2% on a year-over-year basis. As a group, research analysts forecast 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.