PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Sold by LPL Financial LLC

LPL Financial LLC lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 25.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,501 shares of the company’s stock after selling 9,690 shares during the period. LPL Financial LLC’s holdings in PDD were worth $3,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PDD. Baillie Gifford & Co. raised its position in shares of PDD by 5.2% during the 1st quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company’s stock worth $4,739,595,000 after purchasing an additional 1,987,935 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of PDD by 9,469.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company’s stock valued at $4,695,948,000 after acquiring an additional 39,263,851 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of PDD by 4,562.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Dragoneer Investment Group LLC grew its stake in PDD by 48.8% in the fourth quarter. Dragoneer Investment Group LLC now owns 5,572,094 shares of the company’s stock worth $540,437,000 after purchasing an additional 1,827,853 shares in the last quarter. Finally, Krane Funds Advisors LLC lifted its holdings in PDD by 78.3% in the first quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company’s stock worth $596,057,000 after acquiring an additional 2,211,286 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Up 3.7%

NASDAQ PDD opened at $118.95 on Friday. The stock has a market cap of $165.60 billion, a P/E ratio of 12.80, a PEG ratio of 1.63 and a beta of 0.42. The company’s 50-day simple moving average is $108.47 and its 200 day simple moving average is $110.71. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67.

PDD (NASDAQ:PDD) last issued its quarterly earnings data 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). The firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. PDD’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $20.72 earnings per share. Research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PDD shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $112.00 price target on shares of PDD in a report on Wednesday, May 28th. JPMorgan Chase & Co. reduced their price objective on shares of PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Barclays lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 1st. Citigroup raised shares of PDD from a “neutral” rating to a “buy” rating and upped their price objective for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Finally, China Renaissance reaffirmed a “hold” rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.55.

About PDD

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.