Penserra Capital Management LLC Sells 11,495 Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Penserra Capital Management LLC trimmed its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 239,671 shares of the company's stock after selling 11,495 shares during the period. Penserra Capital Management LLC's holdings in PDD were worth $28,364,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in shares of PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after acquiring an additional 97 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Focus Financial Network Inc. increased its position in shares of PDD by 6.3% in the first quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock valued at $270,000 after acquiring an additional 136 shares during the last quarter. Cibc World Markets Corp increased its position in shares of PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after acquiring an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Up 1.4%

Shares of PDD stock traded up $1.50 on Tuesday, hitting $106.75. The stock had a trading volume of 3,905,207 shares, compared to its average volume of 10,943,444. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The business's 50 day moving average is $106.88 and its two-hundred day moving average is $108.60. The stock has a market cap of $148.61 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 1.45 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last posted its 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 firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same period in the previous year, the company posted $20.72 EPS. PDD's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and lifted their target price for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Nomura reissued a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.55.

PDD Company 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.