XTX Topco Ltd Acquires Shares of 31,420 PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

XTX Topco Ltd acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 1st quarter, Holdings Channel.com reports. The fund acquired 31,420 shares of the company’s stock, valued at approximately $3,719,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in PDD by 5.2% during the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company’s stock valued at $4,739,595,000 after buying an additional 1,987,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PDD by 9,469.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company’s stock worth $4,695,948,000 after purchasing an additional 39,263,851 shares during the period. FMR LLC raised its position in shares of PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock worth $1,706,527,000 after purchasing an additional 14,110,042 shares during the period. Finally, FIL Ltd raised its position in shares of PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the topic of several analyst reports. Benchmark lowered their target price on 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 restated a “hold” rating and issued a $107.00 target price on shares of PDD in a research report on Wednesday, May 28th. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a “buy” rating in a research report on Tuesday, May 27th. Macquarie restated an “outperform” rating on shares of PDD in a research report on Tuesday, May 27th. Finally, Barclays cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 1st. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.55.

PDD Stock Down 1.4%

PDD opened at $116.76 on Tuesday. The firm has a market cap of $162.55 billion, a PE ratio of 12.57, a P/E/G ratio of 1.66 and a beta of 0.42. The business has a fifty day simple moving average of $106.14 and a 200-day simple moving average of $109.83. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

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 business 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%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $20.72 EPS. On average, equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.

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.