PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Sei Investments Co.

Key Points

• Sei Investments Co. increased its PDD Holdings stake by 31.9% in the first quarter, buying 143,496 more shares and bringing its total to 593,182 shares worth about $60.6 million.
• PDD’s latest earnings missed analyst expectations, with EPS of $1.38 versus the $2.40 consensus and revenue of $15.41 billion versus $15.92 billion expected, even though revenue still rose 11% year over year.
• Wall Street sentiment is mixed: the stock has a Hold consensus rating, with seven Buy ratings, eight Hold ratings and one Sell, and a consensus price target of $124.64.

Sei Investments Co. increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 593,182 shares of the company's stock after acquiring an additional 143,496 shares during the quarter. Sei Investments Co.'s holdings in PDD were worth $60,611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Focus Partners Wealth increased its stake in PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock worth $1,176,000 after buying an additional 7,744 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock worth $1,762,000 after acquiring an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of PDD by 62.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company's stock worth $174,000 after purchasing an additional 637 shares in the last quarter. Cerity Partners LLC raised its stake in PDD by 2.0% in the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company's stock valued at $2,061,000 after purchasing an additional 382 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in PDD by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company's stock valued at $14,914,000 after purchasing an additional 369 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD opened at $82.66 on Friday. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The company has a market cap of $117.66 billion and a P/E ratio of 8.93. The business's 50-day simple moving average is $84.42 and its 200-day simple moving average is $96.67.

PDD (NASDAQ:PDD - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($1.02). The business had revenue of $15.41 billion for the quarter, compared to analysts' expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.PDD's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.57 EPS. As a group, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PDD. BNP Paribas Exane began coverage on shares of PDD in a report on Monday, June 15th. They set an "underperform" rating and a $89.00 target price for the company. Jefferies Financial Group restated a "buy" rating on shares of PDD in a research report on Wednesday, May 27th. Arete Research raised shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Friday, April 17th. Barclays cut PDD from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Finally, Sanford C. Bernstein dropped their price objective on shares of PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $124.64.

PDD Company Profile

PDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

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