Public Sector Pension Investment Board Has $38.22 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Public Sector Pension Investment Board raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 14.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 322,952 shares of the company’s stock after purchasing an additional 41,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in PDD were worth $38,221,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PDD. Hollencrest Capital Management acquired a new stake in shares of PDD in the 1st quarter valued at $26,000. IFP Advisors Inc boosted its holdings in shares of PDD by 245.8% in the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after purchasing an additional 290 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new stake in shares of PDD in the 4th quarter valued at $192,000. OneDigital Investment Advisors LLC acquired a new stake in shares of PDD in the 1st quarter valued at $204,000. Finally, Gunderson Capital Management Inc. acquired a new stake in shares of PDD in the 1st quarter valued at $218,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 0.1%

NASDAQ PDD opened at $114.26 on Monday. The business’s 50-day moving average price is $106.76 and its two-hundred day moving average price is $110.54. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The firm has a market capitalization of $159.07 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.42.

PDD (NASDAQ:PDD) last released its quarterly 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 company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $103.37 billion. During the same quarter last year, the firm posted $20.72 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a “buy” rating in a report on Tuesday, May 27th. Macquarie restated an “outperform” rating on shares of PDD in a research report on Tuesday, May 27th. JPMorgan Chase & Co. lowered their target price on PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Finally, Citigroup raised PDD from a “neutral” rating to a “buy” rating and upped their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.55.

About PDD

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.