Triata Capital Ltd Has $218.75 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Triata Capital Ltd increased its stake in PDD Holdings by 176.3% in the first quarter, making it the firm's largest investment position.
• Other institutions, including Mirae Asset Global Investments and OVERSEA CHINESE BANKING Corp Ltd, also significantly raised their holdings in PDD during the same period, with increases of 9,469.7% and 4,562.1%, respectively.
• PDD reported earnings of $1.37 per share for the last quarter, falling short of analysts' expectations of $2.25, while its revenue grew 10.2% year-over-year despite underperformance compared to estimates.

Triata Capital Ltd boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 176.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,848,363 shares of the company's stock after buying an additional 1,179,424 shares during the quarter. PDD accounts for approximately 49.5% of Triata Capital Ltd's holdings, making the stock its biggest holding. Triata Capital Ltd owned about 0.13% of PDD worth $218,754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in PDD during the 1st quarter valued at $26,000. IFP Advisors Inc raised 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 valued at $48,000 after purchasing an additional 290 shares during the period. Siemens Fonds Invest GmbH acquired a new stake in PDD in the 4th quarter valued at approximately $192,000. OneDigital Investment Advisors LLC bought a new stake in shares of PDD in the first quarter valued at about $204,000. Finally, Gunderson Capital Management Inc. bought a new position in shares of PDD during the 1st quarter worth about $218,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Up 3.4%

Shares of NASDAQ PDD traded up $4.15 during mid-day trading on Friday, reaching $127.11. 20,112,682 shares of the company were exchanged, compared to its average volume of 8,929,922. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $155.67. The company's 50 day moving average price is $109.82 and its 200 day moving average price is $110.94. The stock has a market capitalization of $176.96 billion, a PE ratio of 13.68, a PEG ratio of 1.68 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 for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $103.37 billion. During the same period in the prior year, the firm earned $20.72 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Benchmark cut their target price on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. JPMorgan Chase & Co. dropped 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. Finally, China Renaissance reiterated a "hold" rating and set a $107.00 price objective 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 given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.