LPL Financial LLC Has $3.37 Million Stock Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

LPL Financial LLC decreased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 25.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,501 shares of the company’s stock after selling 9,690 shares during the quarter. 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 hedge funds and other institutional investors have also modified their holdings of PDD. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PDD by 9,469.7% in the 1st 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 purchasing an additional 39,263,851 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares during the period. Capital International Investors acquired a new position in shares of PDD in the 4th quarter valued at $246,823,000. Krane Funds Advisors LLC boosted its position in shares of PDD by 78.3% in the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company’s stock valued at $596,057,000 after purchasing an additional 2,211,286 shares during the period. Finally, Northern Trust Corp boosted its position in shares of PDD by 182.8% in the 4th quarter. Northern Trust Corp now owns 3,236,686 shares of the company’s stock valued at $313,926,000 after purchasing an additional 2,092,160 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

PDD opened at $118.95 on Friday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The business has a 50-day moving average of $108.47 and a 200-day moving average of $110.71. The company has a market capitalization of $165.60 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42.

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 analysts’ consensus estimates of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $103.37 billion. During the same period last year, the business earned $20.72 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup upgraded PDD from a “neutral” rating to a “buy” rating and increased their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Macquarie restated an “outperform” rating on shares of PDD in a research report on Tuesday, May 27th. Jefferies Financial Group set a $121.00 price objective on PDD and gave the stock a “buy” rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. decreased their price objective on PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Finally, Benchmark decreased their price objective on PDD from $160.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.55.

PDD 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.