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

Penserra Capital Management LLC decreased 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 & Exchange Commission. The firm owned 239,671 shares of the company's stock after selling 11,495 shares during the quarter. Penserra Capital Management LLC's holdings in PDD were worth $28,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in 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 purchasing an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after buying an additional 249 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of PDD during the fourth quarter worth about $165,000. Finally, Siemens Fonds Invest GmbH purchased a new position in PDD during the 4th quarter worth approximately $192,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PDD shares. Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Nomura reiterated a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Benchmark lowered their price objective on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Trading Down 0.6%

NASDAQ PDD traded down $0.62 during trading on Friday, reaching $103.35. 2,746,257 shares of the company's stock were exchanged, compared to its average volume of 10,994,563. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The firm has a market capitalization of $143.88 billion, a PE ratio of 11.12, a P/E/G ratio of 1.45 and a beta of 0.42. The company's fifty day simple moving average is $106.84 and its 200-day simple moving average is $108.51.

PDD (NASDAQ:PDD - Get Free Report) last posted 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). The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $20.72 earnings per share. Equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.

About PDD

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.