Todd Asset Management LLC Has $29.81 Million Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Todd Asset Management LLC increased its holdings in PDD Holdings Inc. by 16.3% during the first quarter, acquiring an additional 35,375 shares to reach a total of 251,885 shares valued at approximately $29.81 million.
• Several institutional investors, including IFP Advisors Inc and OneDigital Investment Advisors LLC, made significant changes to their positions in PDD, with nearly 40% of the stock currently owned by institutional investors.
• PDD reported a quarterly EPS of $1.37, missing the consensus estimate of $2.25, while its revenue for the quarter saw a year-over-year increase of 10.2%.

Todd Asset Management LLC grew its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,885 shares of the company's stock after buying an additional 35,375 shares during the period. Todd Asset Management LLC's holdings in PDD were worth $29,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in PDD during the first quarter worth about $26,000. IFP Advisors Inc lifted its holdings in shares of PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after purchasing an additional 290 shares in the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of PDD during the 4th quarter valued at about $192,000. OneDigital Investment Advisors LLC bought a new position in shares of PDD during the 1st quarter valued at about $204,000. Finally, Gunderson Capital Management Inc. bought a new position in shares of PDD during the 1st quarter valued at about $218,000. Institutional investors own 39.83% of the company's stock.

PDD Trading Up 3.7%

Shares of NASDAQ:PDD traded up $4.27 during trading on Friday, hitting $119.01. 7,150,841 shares of the company were exchanged, compared to its average volume of 8,862,129. The stock has a market cap of $165.68 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.66 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The firm has a fifty day moving average price of $108.10 and a two-hundred day moving average price of $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 the consensus estimate of $2.25 by ($0.88). The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $20.72 EPS. As a group, research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Analyst Ratings Changes

PDD has been the topic of several recent analyst reports. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 price objective on shares of PDD in a report on Wednesday, May 28th. Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and boosted their target price for the company from $127.00 to $165.00 in a research note on Monday, May 12th. China Renaissance restated a "hold" rating and issued a $107.00 target price on shares of PDD in a research note on Wednesday, May 28th. Finally, Benchmark cut their target price on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Company 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.