International Assets Investment Management LLC grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 181.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,108 shares of the company’s stock after purchasing an additional 6,515 shares during the quarter. International Assets Investment Management LLC’s holdings in PDD were worth $788,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. H&H International Investment LLC increased its stake in PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after buying an additional 8,211,600 shares during the period. Temasek Holdings Private Ltd lifted its holdings in PDD by 5.2% during the 1st quarter. Temasek Holdings Private Ltd now owns 4,926,061 shares of the company’s stock worth $503,345,000 after buying an additional 243,167 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in PDD by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,737,229 shares of the company’s stock valued at $381,496,000 after buying an additional 252,537 shares during the period. Perseverance Asset Management International boosted its position in PDD by 10.2% in the 1st quarter. Perseverance Asset Management International now owns 2,161,676 shares of the company’s stock valued at $220,880,000 after buying an additional 199,584 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of PDD in the third quarter worth $202,907,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on PDD. Benchmark cut their price objective on PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a research report on Tuesday, August 25th. Arete Research cut PDD from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, September 7th. Deutsche Bank Aktiengesellschaft upgraded PDD from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. Zacks Research raised PDD from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, Bank of America reissued a “neutral” rating on shares of PDD in a research report on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $110.31.
Read Our Latest Research Report on PDD
PDD Stock Performance
PDD opened at $82.15 on Thursday. The stock has a market capitalization of $116.93 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 0.63 and a beta of -0.03. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.12. The business’s 50-day simple moving average is $79.91 and its 200-day simple moving average is $90.76.
PDD (NASDAQ:PDD – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The company had revenue of $16.54 billion during the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. On average, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current fiscal year.
About PDD
PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.
PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.
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