Zweig DiMenna Associates LLC Invests $4.08 Million in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Zweig DiMenna Associates LLC has invested approximately $4.08 million in PDD Holdings Inc., acquiring 34,500 shares in the first quarter.
• PDD reported a loss in EPS for the last quarter, earning $1.37 compared to the estimated $2.25, although its revenue grew 10.2% year-over-year.
• Analysts have mixed views on PDD, with ratings of "buy," "hold," and a consensus target price of $144.55.

Zweig DiMenna Associates LLC acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,500 shares of the company's stock, valued at approximately $4,083,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in PDD in the 1st quarter valued at about $26,000. IFP Advisors Inc lifted its position in PDD by 245.8% in the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after acquiring an additional 290 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in PDD in the 1st quarter valued at about $204,000. Gunderson Capital Management Inc. bought a new position in PDD in the 1st quarter valued at about $218,000. Finally, First Affirmative Financial Network bought a new position in PDD in the 1st quarter valued at about $218,000. Institutional investors own 39.83% of the company's stock.

PDD Stock Down 0.2%

Shares of PDD stock opened at $118.21 on Friday. The company has a 50 day moving average of $106.15 and a 200-day moving average of $109.43. 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 $164.57 billion, a P/E ratio of 12.72, a PEG ratio of 1.66 and a beta of 0.42.

PDD (NASDAQ:PDD - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $103.37 billion. During the same quarter in the previous year, the business earned $20.72 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Macquarie reaffirmed an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Barclays lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Benchmark decreased their price objective on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $112.00 price objective on shares of PDD in a research note on Wednesday, May 28th. Seven equities research 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.com, PDD presently has an average rating of "Moderate Buy" and a consensus target price of $144.55.

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.

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