Victory Capital Management Inc. Has $40.56 Million Stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Victory Capital Management Inc. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,729 shares of the company's stock after acquiring an additional 6,338 shares during the quarter. Victory Capital Management Inc.'s holdings in PDD were worth $40,562,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PDD. Farther Finance Advisors LLC lifted its holdings in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the period. Generali Asset Management SPA SGR acquired a new position in PDD during the 4th quarter worth about $165,000. Siemens Fonds Invest GmbH acquired a new position in PDD during the 4th quarter worth about $192,000. OneDigital Investment Advisors LLC acquired a new position in PDD during the 1st quarter worth about $204,000. Finally, Gunderson Capital Management Inc. acquired a new position in PDD during the 1st quarter worth about $218,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Up 1.0%

PDD stock opened at $109.00 on Friday. The firm 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 business has a 50 day moving average of $106.34 and a 200-day moving average of $109.00. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on PDD shares. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. China Renaissance reissued a "hold" rating and issued a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Finally, Citigroup raised PDD from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. Seven 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.

PDD 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.

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