PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in PDD Holdings, acquiring an additional 13,247 shares and holding a total of 228,733 shares worth approximately $27 million.
• PDD reported earnings of $1.37 per share, missing estimates, with a significant revenue of $13.19 billion for the quarter, surpassing previous year's performance.
• The stock has a consensus rating of "Moderate Buy" with a price target averaging around $144.55, reflecting positive sentiment from analysts.

Credit Agricole S A grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,733 shares of the company's stock after purchasing an additional 13,247 shares during the quarter. Credit Agricole S A's holdings in PDD were worth $27,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PDD. Raymond James Financial Inc. acquired a new stake in shares of PDD in the 4th quarter valued at $3,114,000. NewEdge Advisors LLC raised its holdings in shares of PDD by 115.6% in the 4th quarter. NewEdge Advisors LLC now owns 14,672 shares of the company's stock valued at $1,423,000 after purchasing an additional 7,868 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PDD by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,672,902 shares of the company's stock valued at $258,988,000 after purchasing an additional 186,025 shares in the last quarter. Norinchukin Bank The raised its holdings in shares of PDD by 8.4% in the 4th quarter. Norinchukin Bank The now owns 6,458 shares of the company's stock valued at $626,000 after purchasing an additional 500 shares in the last quarter. Finally, Natixis raised its holdings in shares of PDD by 401.3% in the 4th quarter. Natixis now owns 30,336 shares of the company's stock valued at $2,942,000 after purchasing an additional 24,284 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of NASDAQ:PDD opened at $119.07 on Wednesday. The company's fifty day moving average price is $109.14 and its 200 day moving average price is $110.77. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The firm has a market capitalization of $165.76 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.68 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data 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). 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 analysts' expectations of $103.37 billion. During the same period in the previous year, the business posted $20.72 earnings per share. The company's revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PDD. China Renaissance restated a "hold" rating and issued a $107.00 price objective on shares of PDD in a report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 price objective on shares of PDD in a report on Wednesday, May 28th. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. JPMorgan Chase & Co. cut their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Benchmark cut their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.