150,930 PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Franchise GP Ltd

Franchise GP Ltd trimmed its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 30.3% during the third quarter, Holdings Channel.com reports. The firm owned 346,930 shares of the company’s stock after selling 150,930 shares during the period. PDD accounts for about 11.5% of Franchise GP Ltd’s holdings, making the stock its largest holding. Franchise GP Ltd’s holdings in PDD were worth $27,040,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC increased its position in PDD by 3.6% during the first quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company’s stock worth $369,000 after purchasing an additional 127 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of PDD by 2.9% during the 1st quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock valued at $478,000 after buying an additional 134 shares during the period. Banque Cantonale Vaudoise lifted its holdings in PDD by 7.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,064 shares of the company’s stock worth $620,000 after buying an additional 399 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in PDD by 0.5% in the first quarter. IFM Investors Pty Ltd now owns 75,408 shares of the company’s stock valued at $7,705,000 after purchasing an additional 405 shares during the last quarter. Finally, Grove Bank & Trust acquired a new stake in shares of PDD during the second quarter worth approximately $38,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research analyst reports. Bank of America reiterated a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. Benchmark lowered their price target on PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. JPMorgan Chase & Co. dropped their target price on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $105.00 price objective on shares of PDD in a research note on Monday, August 24th. Finally, Daiwa Securities Group reiterated a “hold” rating and set a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, PDD currently has a consensus rating of “Hold” and an average target price of $110.31.

PDD Stock Up 1.2%

NASDAQ PDD opened at $82.42 on Friday. The stock has a market capitalization of $117.32 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.64 and a beta of -0.05. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The company has a 50 day moving average price of $82.23 and a two-hundred day moving average price of $87.54.

PDD (NASDAQ:PDD) last announced its earnings results on Friday, August 14th. The company reported $2.84 EPS for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The firm had revenue of $16.54 billion for the quarter. As a group, equities analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current year.

PDD Profile

PDD Holdings Inc (NASDAQ: PDD) is a multinational commerce group that operates online marketplaces connecting consumers, merchants, brands and agricultural producers. Its platforms use interactive shopping features, product discovery tools and technology-driven recommendations to support value-focused purchasing across a broad range of product categories.

The company’s principal platforms are Pinduoduo and Temu. Pinduoduo primarily serves consumers and merchants in China, offering products that include agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.