Polar Capital Holdings Plc raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 3.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 577,391 shares of the company’s stock after acquiring an additional 21,493 shares during the quarter. Polar Capital Holdings Plc’s holdings in PDD were worth $65,470,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Focus Partners Wealth increased its position in shares of PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,744 shares during the last quarter. Intech Investment Management LLC boosted its position in PDD by 2.7% during the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after purchasing an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in PDD by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after purchasing an additional 637 shares in the last quarter. Cerity Partners LLC grew its stake in PDD by 2.0% in the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after purchasing an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of PDD by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after purchasing an additional 369 shares during the last quarter. 39.83% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on PDD. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Friday, April 17th. Morgan Stanley set a $129.00 target price on shares of PDD in a report on Wednesday, May 27th. Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, BNP Paribas Exane assumed coverage on shares of PDD in a research report on Monday. They issued an “underperform” rating and a $89.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $128.08.
PDD Stock Down 2.3%
PDD opened at $81.59 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $78.87 and a 12-month high of $139.41. The business has a 50 day moving average of $94.60 and a 200-day moving average of $102.87. The stock has a market cap of $116.14 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 0.87 and a beta of -0.02.
PDD (NASDAQ:PDD – Get Free Report) last posted its 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 return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current year.
PDD Company Profile
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.
Featured Articles
- Five stocks we like better than PDD
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
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.
