Public Sector Pension Investment Board Has $38.22 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• The Public Sector Pension Investment Board increased its holdings in PDD Holdings Inc. by 14.7%, totaling approximately $38.22 million worth of shares.
• PDD reported a quarterly earnings per share (EPS) of $1.37, missing estimates by $0.88, despite a 10.2% increase in year-over-year revenue.
• Analysts have mixed opinions on PDD's stock, with a consensus rating of "Moderate Buy" and an average price target of $144.55.

Public Sector Pension Investment Board increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 14.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,952 shares of the company's stock after purchasing an additional 41,500 shares during the period. Public Sector Pension Investment Board's holdings in PDD were worth $38,221,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Hollencrest Capital Management bought a new stake in PDD in the 1st quarter valued at approximately $26,000. IFP Advisors Inc lifted its position in shares of PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after purchasing an additional 290 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in PDD during the fourth quarter worth $192,000. OneDigital Investment Advisors LLC bought a new position in PDD in the first quarter valued at $204,000. Finally, Gunderson Capital Management Inc. acquired a new stake in PDD in the 1st quarter valued at $218,000. 39.83% of the stock is owned by institutional investors.

PDD Trading Down 1.6%

Shares of NASDAQ:PDD traded down $1.89 during trading on Thursday, reaching $114.74. 5,131,530 shares of the stock were exchanged, compared to its average volume of 8,875,246. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The stock has a 50-day moving average price of $107.79 and a 200-day moving average price of $110.64. The firm has a market cap of $159.74 billion, a PE ratio of 12.35, a PEG ratio of 1.66 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.88). The firm had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $20.72 earnings per share. On average, sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PDD shares. Barclays cut PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 price objective on shares of PDD in a research note on Wednesday, May 28th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and increased their price objective for the company from $127.00 to $165.00 in a report on Monday, May 12th. China Renaissance restated a "hold" rating and set a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. Finally, Benchmark cut their price target on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Seven 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. According to data from MarketBeat, PDD presently has a consensus rating of "Moderate Buy" and an average price target of $144.55.

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.