Wellington Management Group LLP Acquires 162,412 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Wellington Management Group LLP increased its stake in PDD Holdings by 20.6%, acquiring 162,412 shares, and now holds 950,922 shares valued at approximately $112.54 million.
• Several analysts have revised their price targets for PDD, with Citigroup upgrading it to a "buy" rating and setting a target of $165.00, while JPMorgan reduced their target to $105.00.
• PDD's latest quarterly earnings revealed a missed estimate with earnings per share of $1.37, significantly lower than the consensus estimate of $2.25, despite a year-over-year revenue growth of 10.2%.

Wellington Management Group LLP grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 950,922 shares of the company's stock after buying an additional 162,412 shares during the quarter. Wellington Management Group LLP owned 0.07% of PDD worth $112,542,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. MY.Alpha Management HK Advisors Ltd increased its stake in PDD by 7.0% in the first quarter. MY.Alpha Management HK Advisors Ltd now owns 187,300 shares of the company's stock valued at $22,167,000 after acquiring an additional 12,286 shares during the period. Korea Investment CORP boosted its holdings in PDD by 6.3% during the first quarter. Korea Investment CORP now owns 564,487 shares of the company's stock valued at $66,807,000 after purchasing an additional 33,700 shares in the last quarter. Triata Capital Ltd grew its stake in shares of PDD by 176.3% in the 1st quarter. Triata Capital Ltd now owns 1,848,363 shares of the company's stock valued at $218,754,000 after purchasing an additional 1,179,424 shares during the period. Alpha Family Trust acquired a new position in shares of PDD in the 1st quarter worth approximately $333,000. Finally, Brooklyn Investment Group raised its holdings in shares of PDD by 1,176.3% in the 1st quarter. Brooklyn Investment Group now owns 6,688 shares of the company's stock worth $792,000 after buying an additional 6,164 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. Macquarie reaffirmed an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Jefferies Financial Group set a $121.00 price target on shares of PDD and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Citigroup upgraded shares of 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 research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $144.55.

PDD Stock Up 4.2%

Shares of NASDAQ:PDD opened at $122.96 on Friday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The firm has a market cap of $171.18 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.68 and a beta of 0.42. The company's 50-day moving average price is $109.82 and its two-hundred day moving average price is $110.94.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 earnings per share 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 the consensus estimate of $103.37 billion. During the same quarter last year, the firm earned $20.72 EPS. The business's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

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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