PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Taikang Asset Management Hong Kong Co Ltd

Key Points

• Taikang Asset Management Hong Kong Co Ltd increased its position in PDD Holdings by 69.7%, making it the 4th largest holding in their portfolio, valued at approximately $32 million.
• PDD's stock has shown positive momentum, with a 3.4% increase recently, and it currently holds a significant market cap of $176.96 billion.
• Equities analysts have issued mixed ratings for PDD, with a consensus rating of "Moderate Buy" and an average target price set at $144.55.

Taikang Asset Management Hong Kong Co Ltd raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 69.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 271,977 shares of the company's stock after buying an additional 111,731 shares during the quarter. PDD comprises about 4.4% of Taikang Asset Management Hong Kong Co Ltd's portfolio, making the stock its 4th largest position. Taikang Asset Management Hong Kong Co Ltd's holdings in PDD were worth $32,188,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Krane Funds Advisors LLC raised its holdings in shares of PDD by 78.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after buying an additional 2,211,286 shares in the last quarter. Myriad Asset Management US LP bought a new position in shares of PDD in the first quarter worth about $4,496,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of PDD by 3,127.3% during the 1st quarter. WCM Investment Management LLC now owns 411,324 shares of the company's stock valued at $49,544,000 after purchasing an additional 398,579 shares during the last quarter. Finally, Banco BTG Pactual S.A. acquired a new position in PDD during the 1st quarter worth approximately $537,000. Institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

PDD has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. New Street Research lowered PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research report on Tuesday. China Renaissance reiterated a "hold" rating and issued a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Jefferies Financial Group set a $146.00 price target on PDD and gave the stock a "buy" rating in a report on Monday. Finally, Bank of America raised their price objective on shares of PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, PDD has a consensus rating of "Hold" and a consensus price target of $137.82.

PDD Price Performance

PDD remained flat at $122.22 during trading on Thursday. 5,665,468 shares of the company's stock were exchanged, compared to its average volume of 8,862,717. The company has a 50 day simple moving average of $111.69 and a 200-day simple moving average of $111.29. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The stock has a market capitalization of $170.15 billion, a PE ratio of 13.26, a PEG ratio of 1.66 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a net margin of 23.93% and a return on equity of 30.57%. The business had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same period in the prior year, the firm earned $20.72 earnings per share. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal 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.