Charles Schwab Investment Management Inc. Increases Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Charles Schwab Investment Management Inc. grew its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 997,419 shares of the company’s stock after buying an additional 69,631 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in PDD were worth $118,045,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Signaturefd LLC grew its holdings in PDD by 1.3% during the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company’s stock valued at $1,060,000 after purchasing an additional 119 shares during the last quarter. Focus Financial Network Inc. grew its stake in PDD by 6.3% in the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company’s stock worth $270,000 after acquiring an additional 136 shares in the last quarter. Lindbrook Capital LLC grew its stake in PDD by 11.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company’s stock worth $228,000 after acquiring an additional 199 shares in the last quarter. Hollencrest Capital Management bought a new position in PDD in the 1st quarter worth about $26,000. Finally, AE Wealth Management LLC grew its stake in PDD by 3.8% in the 1st quarter. AE Wealth Management LLC now owns 6,209 shares of the company’s stock worth $735,000 after acquiring an additional 229 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Down 1.1%

NASDAQ:PDD opened at $113.04 on Tuesday. The company’s 50-day moving average price is $107.09 and its 200-day moving average price is $110.56. The company has a market cap of $157.37 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.62 and a beta of 0.42. 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 posted its quarterly 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). The business had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $20.72 earnings per share. On average, analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current year.

Analyst Ratings Changes

PDD has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. Benchmark decreased their target price on shares of PDD from $160.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their target price on shares of PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. China Renaissance reissued a “hold” rating and set a $107.00 target price 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.55.

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.