PDD Holdings Inc. Sponsored ADR $PDD Holdings Reduced by National Pension Service

Key Points

• National Pension Service cut its PDD position by 8.9% in the second quarter, selling 18,780 shares and retaining 191,375 shares valued at approximately $14.6 million.
• Other major institutional investors, including California State Teachers Retirement System and H&H International Investment, increased their holdings; institutional investors collectively own 39.83% of PDD.
• PDD reported quarterly earnings of $2.84 per share on $16.54 billion in revenue. The stock opened at $77.81, while analysts’ consensus rating was “Hold” with an average price target of $113.31.

National Pension Service lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,375 shares of the company's stock after selling 18,780 shares during the quarter. National Pension Service's holdings in PDD were worth $14,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in PDD by 5,977.1% in the 2nd quarter. California State Teachers Retirement System now owns 22,016,773 shares of the company's stock worth $1,679,439,000 after buying an additional 21,654,483 shares in the last quarter. H&H International Investment LLC raised its stake in PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company's stock valued at $2,017,881,000 after acquiring an additional 8,211,600 shares in the last quarter. Norges Bank acquired a new position in PDD during the 4th quarter worth $1,065,446,000. Geode Capital Management LLC boosted its position in PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company's stock worth $761,720,000 after acquiring an additional 359,921 shares during the period. Finally, Krane Funds Advisors LLC grew its stake in shares of PDD by 4.2% in the fourth quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company's stock worth $725,465,000 after purchasing an additional 258,888 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Stock Performance

Shares of PDD stock opened at $77.81 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.41. The stock has a market cap of $110.75 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 0.59 and a beta of -0.01. The business's fifty day moving average is $85.65 and its 200-day moving average is $91.51.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The business had revenue of $16.54 billion during the quarter. Equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.5 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on PDD shares. Morgan Stanley set a $129.00 price target on PDD in a report on Wednesday, May 27th. Zacks Research raised shares of PDD from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Bank of America reiterated a "neutral" rating on shares of PDD in a research report on Wednesday, August 26th. Daiwa Securities Group reissued a "hold" rating and set a $80.00 target price on shares of PDD in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of PDD in a research report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $113.31.

About PDD

PDD Holdings Inc is a multinational commerce group that operates technology platforms connecting consumers, merchants, producers and suppliers. The company's businesses focus on online retail, agricultural commerce and value-oriented shopping experiences, using interactive features, data and consumer demand to support transactions and product discovery.

Its flagship platform, Pinduoduo, serves consumers in China and offers a broad selection of products, including agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.

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