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

Aaron Wealth Advisors LLC acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,311 shares of the company’s stock, valued at approximately $274,000.

Several other hedge funds have also modified their holdings of PDD. Farther Finance Advisors LLC increased its holdings in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares in the last quarter. Jones Financial Companies Lllp grew its position 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 worth $118,000 after buying an additional 97 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of PDD during the fourth quarter worth approximately $165,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in PDD in the fourth quarter valued at approximately $192,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PDD shares. Benchmark dropped their price objective on shares of PDD from $160.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, May 28th. China Renaissance reiterated a “hold” rating and set a $107.00 target price on shares of PDD in a research note on Wednesday, May 28th. JPMorgan Chase & Co. dropped their target price on PDD from $125.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Barclays cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Sunday, June 1st. Finally, Macquarie reaffirmed 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.55.

PDD Trading Down 0.6%

Shares of NASDAQ PDD opened at $103.35 on Friday. The stock has a market cap of $143.88 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.46 and a beta of 0.42. The stock has a 50 day moving average of $106.85 and a two-hundred day moving average of $108.46. 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 announced its earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.88). PDD had a net margin of 24.63% and a return on equity of 33.76%. The business had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $103.37 billion. During the same period in the previous year, the company posted $20.72 earnings per share. PDD’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share 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.