Robeco Institutional Asset Management B.V. Raises Stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Robeco Institutional Asset Management B.V. lifted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,369,381 shares of the company’s stock after purchasing an additional 219,865 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.17% of PDD worth $280,416,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PDD. Norges Bank acquired a new position in shares of PDD during the 4th quarter worth $812,246,000. Sanders Capital LLC purchased a new stake in shares of PDD in the fourth quarter valued at about $499,972,000. FMR LLC grew its position in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the last quarter. FIL Ltd increased its stake in shares of PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after purchasing an additional 3,350,627 shares in the last quarter. Finally, Capital International Investors purchased a new position in shares of PDD during the 4th quarter worth approximately $246,823,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PDD shares. Citigroup raised PDD from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Barclays cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Sunday, June 1st. Benchmark lowered their price target on shares of PDD from $160.00 to $128.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Macquarie reaffirmed an “outperform” rating on shares of PDD in a research note on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $144.55.

PDD Stock Down 0.0%

Shares of PDD opened at $107.14 on Thursday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The company’s fifty day moving average is $105.96 and its two-hundred day moving average is $108.43. The firm has a market cap of $149.15 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.50 and a beta of 0.42.

PDD (NASDAQ:PDD) last issued its earnings results 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 firm had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $103.37 billion. During the same period last year, the business posted $20.72 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

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.