PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by MY.Alpha Management HK Advisors Ltd

Key Points

• MY.Alpha Management HK Advisors Ltd increased its stake in PDD Holdings Inc. by 7.0% during the 1st quarter, making it the firm's 2nd largest position at 11.0% of its total holdings, valued at approximately $22.17 million.
• PDD Holdings reported earnings per share (EPS) of $1.37 for the last quarter, falling short of the consensus estimate of $2.25, while the company's revenue increased by 10.2% year-over-year, amounting to $13.19 billion.
• Research analysts have mixed views on PDD, with seven holding, six buying, and one strongly buying the stock; the average target price is set at $144.55.

MY.Alpha Management HK Advisors Ltd grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 7.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,300 shares of the company's stock after buying an additional 12,286 shares during the period. PDD makes up approximately 11.0% of MY.Alpha Management HK Advisors Ltd's holdings, making the stock its 2nd biggest position. MY.Alpha Management HK Advisors Ltd's holdings in PDD were worth $22,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in PDD during the 1st quarter valued at approximately $26,000. IFP Advisors Inc raised its holdings in PDD by 245.8% in the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after acquiring an additional 290 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of PDD in the 4th quarter worth approximately $192,000. OneDigital Investment Advisors LLC acquired a new position in shares of PDD in the 1st quarter worth approximately $204,000. Finally, Gunderson Capital Management Inc. acquired a new position in shares of PDD in the 1st quarter worth approximately $218,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PDD. 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. Benchmark reduced their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. China Renaissance restated a "hold" rating and issued a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Citigroup raised PDD from a "neutral" rating to a "buy" rating and lifted their price target for the company from $127.00 to $165.00 in a research note on Monday, May 12th. One 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Trading Up 4.2%

Shares of NASDAQ:PDD traded up $4.96 during trading on Thursday, reaching $122.96. 13,383,128 shares of the stock were exchanged, compared to its average volume of 8,859,919. The firm has a market cap of $171.18 billion, a PE ratio of 13.24, a PEG ratio of 1.69 and a beta of 0.42. The stock has a 50-day moving average price of $109.43 and a 200-day moving average price of $110.82. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $20.72 earnings per share. On average, sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

PDD Company Profile

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.