Robeco Institutional Asset Management B.V. Grows Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Robeco Institutional Asset Management B.V. lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,369,381 shares of the company’s stock after acquiring an additional 219,865 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in PDD were worth $280,416,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PDD. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC grew its position in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after purchasing an additional 249 shares during the period. Jones Financial Companies Lllp raised its stake in shares of PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after purchasing an additional 97 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new position in shares of PDD during the fourth quarter worth $165,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PDD. Macquarie reaffirmed an “outperform” rating on shares of PDD in a report on Tuesday, May 27th. Barclays cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 1st. China Renaissance reaffirmed a “hold” rating and set a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Citigroup raised 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 report on Monday, May 12th. Finally, Benchmark lowered their price objective on PDD from $160.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.55.

PDD Stock Performance

NASDAQ:PDD opened at $107.14 on Thursday. The stock has a 50-day simple moving average of $105.96 and a 200 day simple moving average of $108.43. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The company has a market capitalization of $149.15 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.50 and a beta of 0.42.

PDD (NASDAQ:PDD) last issued its earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.88). The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. PDD’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $20.72 EPS. On average, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal 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.