PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group significantly increased its position in PDD Holdings by 1,176.3%, owning 6,688 shares worth approximately $792,000 after acquiring an additional 6,164 shares.
• PDD's quarterly earnings report revealed an earnings per share of $1.37, which fell short of analysts' expectations of $2.25, while revenue for the quarter was $13.19 billion.
• Institutional investors now own 39.83% of PDD’s stock, with various funds increasing their stakes during the first quarter, highlighting growing interest in the company.

Brooklyn Investment Group increased its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 1,176.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,688 shares of the company's stock after buying an additional 6,164 shares during the period. Brooklyn Investment Group's holdings in PDD were worth $792,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. lifted its holdings in PDD by 21.8% in the 1st quarter. Raymond James Financial Inc. now owns 39,118 shares of the company's stock valued at $4,630,000 after purchasing an additional 7,013 shares in the last quarter. American Century Companies Inc. lifted its holdings in PDD by 10.8% in the 1st quarter. American Century Companies Inc. now owns 603,184 shares of the company's stock valued at $71,387,000 after purchasing an additional 59,025 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PDD by 7.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,884,942 shares of the company's stock valued at $341,498,000 after purchasing an additional 212,040 shares in the last quarter. Sei Investments Co. lifted its holdings in PDD by 0.8% in the 1st quarter. Sei Investments Co. now owns 275,277 shares of the company's stock valued at $32,579,000 after purchasing an additional 2,109 shares in the last quarter. Finally, LGT Group Foundation lifted its holdings in PDD by 39.9% in the 1st quarter. LGT Group Foundation now owns 12,379 shares of the company's stock valued at $1,465,000 after purchasing an additional 3,528 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD traded up $4.15 on Friday, reaching $127.11. 20,096,407 shares of the company's stock were exchanged, compared to its average volume of 8,929,871. The company's 50 day moving average is $109.82 and its 200-day moving average is $110.94. The company has a market cap of $176.96 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.68 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last posted its earnings results 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 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 analyst estimates of $103.37 billion. During the same period last year, the company posted $20.72 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the company a "buy" rating in a report on Tuesday, May 27th. China Renaissance restated a "hold" rating and issued a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. JPMorgan Chase & Co. dropped their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 price objective on shares of PDD in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, PDD presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD 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.