Russell Investments Group Ltd. reduced its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 621,829 shares of the company's stock after selling 69,691 shares during the period. Russell Investments Group Ltd.'s holdings in PDD were worth $73,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in PDD by 5.2% in the 1st quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock worth $4,739,595,000 after acquiring an additional 1,987,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in PDD by 9,469.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after acquiring an additional 39,263,851 shares in the last quarter. Vanguard Group Inc. increased its holdings in PDD by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock worth $3,441,556,000 after acquiring an additional 416,867 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Finally, Dragoneer Investment Group LLC increased its holdings in PDD by 48.8% in the 4th quarter. Dragoneer Investment Group LLC now owns 5,572,094 shares of the company's stock worth $540,437,000 after acquiring an additional 1,827,853 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PDD has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. JPMorgan Chase & Co. dropped their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and set a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Finally, Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and upped their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.55.
Check Out Our Latest Analysis on PDD
PDD Stock Performance
PDD stock traded up $4.21 during trading hours on Friday, reaching $118.95. 10,077,227 shares of the stock were exchanged, compared to its average volume of 8,883,136. The stock has a market cap of $165.60 billion, a P/E ratio of 12.80, a P/E/G ratio of 1.66 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $155.67. The firm's 50 day moving average is $108.10 and its 200 day moving average is $110.66.
PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%. The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. During the same period last year, the company earned $20.72 earnings per share. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.
PDD Company Profile
(
Free Report)
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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