PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its holdings in PDD Holdings Inc. by 25.3% in the first quarter, now owning 590,128 shares worth approximately $64.6 million.
• Several analysts have issued mixed ratings on PDD, with price targets ranging from $105.00 to $165.00 and a consensus rating of "Moderate Buy".
• PDD's last quarterly earnings missed estimates, reporting an EPS of $1.37 against a consensus of $2.25, while revenue reached $13.19 billion.

APG Asset Management N.V. reduced its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 590,128 shares of the company's stock after selling 199,400 shares during the period. APG Asset Management N.V.'s holdings in PDD were worth $64,656,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in PDD in the first quarter valued at approximately $26,000. IFP Advisors Inc boosted its stake in shares of PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after acquiring an additional 290 shares during the last quarter. Goldstream Capital Management Ltd acquired a new stake in shares of PDD in the first quarter worth approximately $102,000. OneDigital Investment Advisors LLC acquired a new stake in shares of PDD in the first quarter worth approximately $204,000. Finally, Gunderson Capital Management Inc. acquired a new stake in shares of PDD in the first quarter worth approximately $218,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PDD. Benchmark lowered their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Citigroup raised 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. Finally, JPMorgan Chase & Co. reduced their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Stock Up 3.4%

NASDAQ:PDD opened at $127.11 on Friday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $155.67. The stock's fifty day moving average is $110.35 and its two-hundred day moving average is $111.03. The company has a market capitalization of $176.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.75 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.88). PDD had a net margin of 24.63% and a return on equity of 33.76%. The business had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same period last year, the company earned $20.72 EPS. The business's revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

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.

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