PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Franchise GP Ltd

Key Points

• Franchise GP Ltd cut its PDD Holdings stake by 30.3% in the third quarter, selling 150,930 shares and retaining 346,930 shares valued at approximately $27.04 million. PDD remains the fund’s largest holding, representing 11.5% of its portfolio.
• Analyst sentiment is mixed: PDD has an overall “Hold” rating with an average price target of $110.31, while recent targets were lowered by Benchmark and JPMorgan; Weiss Ratings downgraded the stock to “Sell.”
• PDD shares opened at $82.42, near their 50-day average of $82.23 and below the 200-day average of $87.54. The company reported quarterly revenue of $16.54 billion and EPS of $2.84, with analysts expecting full-year EPS of $10.02.

Franchise GP Ltd reduced its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 30.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,930 shares of the company's stock after selling 150,930 shares during the quarter. PDD makes up 11.5% of Franchise GP Ltd's holdings, making the stock its largest position. Franchise GP Ltd's holdings in PDD were worth $27,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealthfront Advisers LLC boosted its stake in PDD by 3.6% in the 1st quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company's stock worth $369,000 after purchasing an additional 127 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of PDD by 2.9% in the 1st quarter. NewEdge Advisors LLC now owns 4,677 shares of the company's stock valued at $478,000 after purchasing an additional 134 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of PDD by 7.0% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,064 shares of the company's stock worth $620,000 after acquiring an additional 399 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in PDD by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 75,408 shares of the company's stock valued at $7,705,000 after purchasing an additional 405 shares during the period. Finally, Grove Bank & Trust purchased a new stake in PDD in the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PDD shares. Arete Research set a $93.00 target price on PDD and gave the company a "neutral" rating in a report on Monday, September 7th. Daiwa Securities Group reiterated a "hold" rating and issued a $80.00 price objective on shares of PDD in a report on Tuesday, June 23rd. Benchmark reduced their price target on shares of PDD from $127.00 to $114.00 and set a "buy" rating on the stock in a research note on Tuesday, August 25th. JPMorgan Chase & Co. lowered their target price on PDD from $110.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, September 10th. Finally, Weiss Ratings cut PDD from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 9th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $110.31.

PDD Price Performance

PDD stock opened at $82.42 on Friday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The company has a fifty day moving average price of $82.23 and a 200 day moving average price of $87.54. The company has a market cap of $117.32 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.64 and a beta of -0.05.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. The business had revenue of $16.54 billion for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. As a group, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.02 earnings per share for the current year.

About PDD

PDD Holdings Inc NASDAQ: PDD is a multinational commerce group that operates online marketplaces connecting consumers, merchants, brands and agricultural producers. Its platforms use interactive shopping features, product discovery tools and technology-driven recommendations to support value-focused purchasing across a broad range of product categories.

The company's principal platforms are Pinduoduo and Temu. Pinduoduo primarily serves consumers and merchants in China, offering products that include agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.