OneDigital Investment Advisors LLC Makes New Investment in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

OneDigital Investment Advisors LLC purchased a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,725 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its position in PDD by 7.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,851 shares of the company’s stock worth $456,000 after purchasing an additional 264 shares in the last quarter. Krane Funds Advisors LLC grew its position in PDD by 78.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company’s stock worth $596,057,000 after purchasing an additional 2,211,286 shares in the last quarter. Aaron Wealth Advisors LLC purchased a new position in PDD during the 1st quarter worth approximately $274,000. WCM Investment Management LLC grew its position in PDD by 3,127.3% during the 1st quarter. WCM Investment Management LLC now owns 411,324 shares of the company’s stock worth $49,544,000 after purchasing an additional 398,579 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new position in PDD during the 1st quarter worth approximately $51,985,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Nomura reissued a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Barclays cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 1st. Jefferies Financial Group set a $121.00 price target on PDD and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Finally, Macquarie reissued an “outperform” rating on shares of PDD in a research report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and an average price target of $144.55.

PDD Stock Down 0.1%

PDD stock opened at $104.91 on Monday. The stock has a market capitalization of $146.05 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.47 and a beta of 0.42. The stock has a 50-day simple moving average of $106.77 and a 200 day simple moving average of $108.76. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.88). The firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $103.37 billion. PDD had a net margin of 24.63% and a return on equity of 33.76%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $20.72 earnings per share. As a group, sell-side analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS 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.