ANTIPODES PARTNERS Ltd Increases Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

ANTIPODES PARTNERS Ltd lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.0% during the first quarter, Holdings Channel.com reports. The fund owned 136,748 shares of the company’s stock after acquiring an additional 1,369 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in PDD were worth $16,185,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PDD. Hollencrest Capital Management acquired a new position in PDD in the 1st quarter valued at $26,000. IFP Advisors Inc grew its position in shares of PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after buying an additional 290 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of PDD during the first quarter worth about $204,000. Gunderson Capital Management Inc. acquired a new position in shares of PDD during the first quarter worth about $218,000. Finally, First Affirmative Financial Network acquired a new position in shares of PDD during the first quarter worth about $218,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ:PDD traded down $1.02 during mid-day trading on Thursday, reaching $117.44. The company’s stock had a trading volume of 3,015,350 shares, compared to its average volume of 9,203,551. The stock has a market cap of $163.49 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.61 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The company’s fifty day simple moving average is $106.15 and its two-hundred day simple moving average is $109.30.

PDD (NASDAQ:PDD) last announced its earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.88). The business 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%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $20.72 earnings per share. Sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PDD. Benchmark decreased their target price on 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 PDD and gave the company a “buy” rating in a research note on Tuesday, May 27th. China Renaissance restated a “hold” rating and set a $107.00 price target on shares of PDD in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $112.00 price target on shares of PDD in a research note on Wednesday, May 28th. Finally, Citigroup upgraded shares of PDD from a “neutral” rating to a “buy” rating and raised their price objective 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.55.

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.