Vanguard Group Inc. Boosts Stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Vanguard Group Inc. increased its stake in PDD Holdings by 1.5%, acquiring an additional 416,867 shares, now holding approximately 29 million shares valued at $3.44 billion.
• Other large investors like Baillie Gifford & Co. and Mirae Asset Global Investments made significant boosts to their holdings, further indicating strong institutional interest in PDD.
• PDD's latest quarterly earnings report showed EPS of $1.37, below the expected $2.25, amid revenue of $13.19 billion, reflecting a 10.2% year-over-year increase.

Vanguard Group Inc. increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,079,476 shares of the company's stock after acquiring an additional 416,867 shares during the quarter. Vanguard Group Inc. owned approximately 2.11% of PDD worth $3,441,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hollencrest Capital Management purchased a new position in shares of PDD in the 1st quarter valued at approximately $26,000. IFP Advisors Inc raised its stake in PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after buying an additional 290 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in PDD during the fourth quarter valued at $192,000. OneDigital Investment Advisors LLC purchased a new position in PDD during the first quarter valued at $204,000. Finally, Gunderson Capital Management Inc. purchased a new position in PDD during the first quarter valued at $218,000. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup raised PDD from a "neutral" rating to a "buy" rating and boosted their price target for the company from $127.00 to $165.00 in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Benchmark reduced their price target on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 price objective on PDD and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. dropped their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Price Performance

Shares of NASDAQ PDD traded up $3.39 during mid-day trading on Tuesday, hitting $116.43. The company had a trading volume of 7,707,209 shares, compared to its average volume of 8,912,511. The company has a market capitalization of $162.09 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42. The business's 50-day simple moving average is $107.09 and its 200 day simple moving average is $110.56. 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 issued its quarterly earnings data 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 firm had revenue of $13.19 billion for the quarter, compared to analysts' expectations of $103.37 billion. During the same period in the previous year, the business posted $20.72 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

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.