Teachers Retirement System of The State of Kentucky Boosts Stock Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Teachers Retirement System of The State of Kentucky raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 25.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,590 shares of the company's stock after buying an additional 34,600 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in PDD were worth $19,953,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PDD. Krane Funds Advisors LLC raised its stake in shares of PDD by 78.3% in the first quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after purchasing an additional 2,211,286 shares during the last quarter. Renaissance Technologies LLC lifted its position in PDD by 56.3% during the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock valued at $91,898,000 after purchasing an additional 341,300 shares in the last quarter. Myriad Asset Management US LP bought a new position in shares of PDD during the 1st quarter valued at approximately $4,496,000. FMR LLC increased its holdings in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in PDD by 4,562.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $109.00 on Monday. The company has a market cap of $151.74 billion, a PE ratio of 11.73, a P/E/G ratio of 1.53 and a beta of 0.42. The firm's 50 day moving average price is $106.34 and its 200-day moving average price is $109.09. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last announced its earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share (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 the consensus estimate of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $20.72 EPS. On average, analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PDD. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the company a "buy" rating in a research report on Tuesday, May 27th. Benchmark dropped their price objective on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note 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. China Renaissance reiterated a "hold" rating and issued a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock 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.

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