Trivest Advisors Ltd Has $157.73 Million Stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Trivest Advisors Ltd increased its stake in PDD Holdings Inc. by 189.7% in Q1, owning 1,332,700 shares valued at approximately $157.73 million, making it the fund's 2nd largest holding.
• Institutional investments in PDD surged, with Mirae Asset increasing its position by 9,469.7% during the same quarter, now holding shares worth nearly $4.7 billion.
• PDD reported a quarterly earnings per share of $1.37, missing the estimate of $2.25, while revenue was significantly lower than expected at $13.19 billion versus a consensus of $103.37 billion.

Trivest Advisors Ltd grew its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 189.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,332,700 shares of the company's stock after purchasing an additional 872,700 shares during the quarter. PDD makes up 13.4% of Trivest Advisors Ltd's portfolio, making the stock its 2nd largest holding. Trivest Advisors Ltd owned about 0.10% of PDD worth $157,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PDD by 9,469.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after buying an additional 39,263,851 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of 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 worth $1,706,527,000 after buying an additional 14,110,042 shares during the period. Sanders Capital LLC acquired a new position in shares of PDD during the fourth quarter worth approximately $499,972,000. FMR LLC boosted its position in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after buying an additional 4,673,022 shares during the period. Finally, FIL Ltd lifted its position in PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $116.76 on Tuesday. The stock has a market capitalization of $162.55 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.66 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67. The business's fifty day moving average is $106.14 and its two-hundred day moving average is $109.83.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly 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 during 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%. PDD's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $20.72 EPS. On average, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group set a $121.00 target price on PDD and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Macquarie restated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 target price on shares of PDD in a research report on Wednesday, May 28th. Barclays downgraded PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Finally, Benchmark cut their target price on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Seven research 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 company has an average rating of "Moderate Buy" and a consensus target price 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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