RD Finance Ltd Makes New Investment in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• RD Finance Ltd has made a new investment in PDD Holdings Inc., purchasing 9,350 shares valued at roughly $1,107,000, making up about 0.9% of its investment portfolio.
• PDD Holdings Inc. recently reported quarterly earnings of $1.37 per share, missing analysts' estimates by $0.88, with total revenue of $13.19 billion, far below expectations of $103.37 billion.
• Multiple research firms have recently issued ratings on PDD, with an average rating of "Moderate Buy" and a consensus price target of $144.55.

RD Finance Ltd purchased a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,350 shares of the company's stock, valued at approximately $1,107,000. PDD comprises approximately 0.9% of RD Finance Ltd's investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of PDD. DnB Asset Management AS lifted its stake in shares of PDD by 5.0% in the 4th quarter. DnB Asset Management AS now owns 51,040 shares of the company's stock valued at $4,950,000 after acquiring an additional 2,417 shares during the last quarter. Allianz SE bought a new position in PDD during the 4th quarter valued at approximately $379,000. O Shaughnessy Asset Management LLC raised its position in PDD by 1.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,762 shares of the company's stock valued at $4,244,000 after purchasing an additional 518 shares during the last quarter. B. Metzler seel. Sohn & Co. AG raised its position in PDD by 19.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 50,286 shares of the company's stock valued at $4,877,000 after purchasing an additional 8,325 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in PDD by 23.7% during the 4th quarter. Geode Capital Management LLC now owns 5,794,895 shares of the company's stock valued at $559,482,000 after purchasing an additional 1,108,390 shares during the last quarter. Institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PDD. China Renaissance reaffirmed a "hold" rating and set a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Macquarie reaffirmed an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. JPMorgan Chase & Co. reduced their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Barclays downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Seven equities research 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Trading Down 1.4%

Shares of PDD opened at $116.76 on Tuesday. The business's fifty day simple moving average is $106.14 and its two-hundred day simple moving average is $109.83. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The company has a market cap of $162.55 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.66 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The firm had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $20.72 earnings per share. As a group, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

PDD 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.

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