ProShare Advisors LLC Purchases 38,990 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• ProShare Advisors increased its PDD Holdings stake by 6.1% in the third quarter, purchasing 38,990 shares and bringing its holdings to 681,188 shares valued at approximately $53.1 million.
• Institutional investors own 39.83% of PDD, with several major firms—including H&H International Investment, Temasek Holdings and Dimensional Fund Advisors—also increasing their positions.
• PDD shares opened at $78.61, well below their one-year high of $139.12. Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $110.31.

ProShare Advisors LLC lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 681,188 shares of the company's stock after buying an additional 38,990 shares during the period. ProShare Advisors LLC's holdings in PDD were worth $53,092,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. H&H International Investment LLC lifted its stake in shares of PDD by 71.2% in the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company's stock valued at $2,017,881,000 after acquiring an additional 8,211,600 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in PDD by 5.2% during the 1st quarter. Temasek Holdings Private Ltd now owns 4,926,061 shares of the company's stock worth $503,345,000 after purchasing an additional 243,167 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PDD by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,737,229 shares of the company's stock worth $381,496,000 after purchasing an additional 252,537 shares during the period. Perseverance Asset Management International increased its position in shares of PDD by 10.2% during the first quarter. Perseverance Asset Management International now owns 2,161,676 shares of the company's stock worth $220,880,000 after buying an additional 199,584 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in PDD in the third quarter valued at $202,907,000. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

Shares of PDD opened at $78.61 on Monday. The company has a 50-day simple moving average of $80.30 and a two-hundred day simple moving average of $91.18. The firm has a market capitalization of $111.89 billion, a PE ratio of 8.66, a price-to-earnings-growth ratio of 0.62 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 $139.12.

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 firm had revenue of $16.54 billion during the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PDD. Deutsche Bank Aktiengesellschaft raised shares of PDD from a "hold" rating to a "buy" rating in a research report on Thursday. Weiss Ratings raised shares of PDD from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, October 27th. Arete Research cut shares of PDD from a "buy" rating to a "neutral" rating and set a $93.00 price objective for the company. in a report on Monday, September 7th. JPMorgan Chase & Co. dropped their price target on shares of PDD from $110.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, September 10th. Finally, Benchmark cut their price target on PDD from $127.00 to $114.00 and set a "buy" rating for the company in a research note on Tuesday, August 25th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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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