PDD Holdings Inc. Sponsored ADR $PDD Stock Sold by Capstone Capital Management Ltd

Key Points

• Capstone Capital Management cut its PDD Holdings stake by 72.1% in the third quarter, selling 37,628 shares and retaining 14,571 shares valued at approximately $1.14 million.
• PDD stock opened at $81.63, near its 50-day moving average and well below its one-year high of $139.41. The company reported quarterly revenue of $16.54 billion, earnings per share of $2.84, a 20.73% net margin, and a 22.29% return on equity.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $110.31; target changes included Benchmark lowering its target to $114 while Weiss Ratings downgraded the stock to “sell.”

Capstone Capital Management Ltd lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 72.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,571 shares of the company's stock after selling 37,628 shares during the period. Capstone Capital Management Ltd's holdings in PDD were worth $1,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealthfront Advisers LLC lifted its stake in shares of PDD by 3.6% in the 1st quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company's stock valued at $369,000 after purchasing an additional 127 shares during the last quarter. NewEdge Advisors LLC boosted 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 buying an additional 134 shares during the period. Banque Cantonale Vaudoise grew its holdings in 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 stake in shares of PDD by 0.5% during the first quarter. IFM Investors Pty Ltd now owns 75,408 shares of the company's stock worth $7,705,000 after purchasing an additional 405 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its holdings in shares of PDD by 9.2% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,951 shares of the company's stock valued at $386,000 after acquiring an additional 416 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Performance

PDD stock opened at $81.63 on Wednesday. The stock has a market capitalization of $116.19 billion, a P/E ratio of 8.99, a PEG ratio of 0.64 and a beta of -0.05. 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 50 day moving average price of $81.60 and a two-hundred day moving average price of $87.12.

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

Analysts Set New Price Targets

PDD has been the topic of several research analyst reports. Zacks Research upgraded shares of PDD from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Bank of America reiterated a "neutral" rating on shares of PDD in a research report on Wednesday, August 26th. Benchmark reduced their target price on PDD from $127.00 to $114.00 and set a "buy" rating for the company in a report on Tuesday, August 25th. Daiwa Securities Group restated a "hold" rating and set a $80.00 target price on shares of PDD in a research report on Tuesday, June 23rd. Finally, Weiss Ratings cut shares of PDD from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 9th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, PDD currently has a consensus rating of "Hold" and a consensus target price of $110.31.

About PDD

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company's platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings' businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.

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