TT International Asset Management LTD Buys New Stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

TT International Asset Management LTD bought a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 265,302 shares of the company's stock, valued at approximately $31,398,000. PDD accounts for about 4.6% of TT International Asset Management LTD's portfolio, making the stock its 9th biggest holding.

A number of other institutional investors also recently added to or reduced their stakes in PDD. Norges Bank bought a new stake in shares of PDD in the 4th quarter worth approximately $812,246,000. Sanders Capital LLC purchased a new stake in shares of PDD during the fourth quarter valued at $499,972,000. FMR LLC increased its stake 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 purchasing an additional 4,673,022 shares in the last quarter. FIL Ltd lifted its stake in PDD by 72.4% during the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after buying an additional 3,350,627 shares in the last quarter. Finally, Capital International Investors acquired a new position in PDD in the 4th quarter worth approximately $246,823,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PDD shares. Nomura reiterated a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Macquarie reissued an "outperform" rating on shares of PDD in a research note on Tuesday, May 27th. Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and upped their price target for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Finally, China Renaissance reiterated a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Seven research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $144.55.

PDD Price Performance

Shares of NASDAQ PDD traded up $5.21 during trading hours on Tuesday, hitting $107.16. 11,699,599 shares of the company's stock were exchanged, compared to its average volume of 11,073,443. The company's 50-day moving average price is $105.40 and its 200-day moving average price is $108.45. The stock has a market capitalization of $149.18 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.44 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.

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). PDD had a return on equity of 33.76% and a net margin of 24.63%. The company had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. During the same quarter in the prior year, the business earned $20.72 earnings per share. The business's revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

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.