PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Advisors Preferred LLC

Advisors Preferred LLC increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 197.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,230 shares of the company’s stock after buying an additional 6,794 shares during the quarter. Advisors Preferred LLC’s holdings in PDD were worth $1,045,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Partners Wealth raised its holdings in PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after purchasing an additional 7,744 shares during the period. Intech Investment Management LLC lifted its position in shares of PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after buying an additional 395 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in PDD by 62.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares during the period. Cerity Partners LLC grew its stake in PDD by 2.0% in the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after acquiring an additional 382 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in PDD by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Get PDD alerts:

PDD Price Performance

NASDAQ PDD opened at $83.91 on Wednesday. The stock has a market capitalization of $119.44 billion and a P/E ratio of 9.06. The firm’s 50-day moving average is $86.64 and its two-hundred day moving average is $98.21. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41.

PDD (NASDAQ:PDD – Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. PDD’s revenue was up 11.0% on a year-over-year basis. As a group, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research analyst reports. Sanford C. Bernstein reduced their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Citigroup reduced their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on PDD in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $124.64.

Get Our Latest Analysis on PDD

PDD Company Profile

(Free Report)

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

See Also

• Five stocks we like better than PDD
• Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
• 3 Overlooked Energy ETFs Delivering Strong Returns and Income
• 3 Space Stocks That Could Outshine SpaceX After Its IPO
• JPMorgan’s Q2 Strength Gives the Stock Rally New Support

Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report).

Receive News & Ratings for PDD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDD and related companies with MarketBeat.com's FREE daily email newsletter.