Vontobel Holding Ltd. increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,841 shares of the company's stock after purchasing an additional 17,494 shares during the period. Vontobel Holding Ltd.'s holdings in PDD were worth $14,183,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of PDD. Jones Financial Companies Lllp increased its holdings in PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of PDD by 30.9% during the fourth 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. Focus Financial Network Inc. grew its holdings in shares of PDD by 6.3% during the first quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock worth $270,000 after buying an additional 136 shares in the last quarter. New York Life Investment Management LLC raised its position in PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after buying an additional 139 shares during the last quarter. Finally, Cibc World Markets Corp lifted its stake in PDD by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock valued at $1,435,000 after acquiring an additional 164 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on PDD shares. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Barclays cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. JPMorgan Chase & Co. decreased their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup raised PDD from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $144.55.
Get Our Latest Research Report on PDD
PDD Stock Down 0.6%
Shares of PDD stock traded down $0.62 during trading on Thursday, reaching $103.35. 2,746,257 shares of the company's stock were exchanged, compared to its average volume of 10,973,601. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The firm's fifty day moving average price is $106.85 and its 200-day moving average price is $108.43. The stock has a market capitalization of $143.88 billion, a PE ratio of 11.12, a PEG ratio of 1.46 and a beta of 0.42.
PDD (NASDAQ:PDD - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 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 analyst estimates of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. PDD's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $20.72 earnings per share. As a group, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.
PDD Profile
(
Free Report)
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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