PDD Holdings Inc. Sponsored ADR $PDD Stock Sold by Matthews International Capital Management LLC

Matthews International Capital Management LLC cut its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 32.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,294 shares of the company’s stock after selling 43,186 shares during the period. PDD accounts for about 2.8% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 12th biggest position. Matthews International Capital Management LLC’s holdings in PDD were worth $6,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PDD. M&G PLC lifted its position in PDD by 10.3% during the 3rd quarter. M&G PLC now owns 274,120 shares of the company’s stock valued at $21,381,000 after purchasing an additional 25,504 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in PDD by 1.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 931,904 shares of the company’s stock worth $71,291,000 after purchasing an additional 10,308 shares during the period. Candriam S.C.A. raised its holdings in PDD by 32.2% in the third quarter. Candriam S.C.A. now owns 86,300 shares of the company’s stock worth $6,751,000 after purchasing an additional 21,000 shares during the period. Twin Peaks Capital Ltd bought a new position in shares of PDD during the third quarter worth $5,066,000. Finally, International Assets Investment Management LLC boosted its position in shares of PDD by 23.4% during the third quarter. International Assets Investment Management LLC now owns 4,434 shares of the company’s stock worth $339,000 after purchasing an additional 841 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Trading Down 1.4%

Shares of PDD opened at $79.40 on Wednesday. The firm has a fifty day simple moving average of $79.63 and a 200 day simple moving average of $90.28. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.12. The stock has a market capitalization of $113.02 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.64 and a beta of -0.03.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The company had revenue of $16.54 billion during the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. As a group, research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.02 earnings per share for the current fiscal year.

Key PDD News

Here are the key news stories impacting PDD this week:

• Positive Sentiment: A report puts the average analyst price target at $107.31, above the stock’s recent level. Article: PDD Holdings Inc. Sponsored ADR Stock Has Average Price Target of $107.31
• Neutral Sentiment: A short-interest report lists zero shares short as of November 10, which conflicts with its claim of a significant increase; the figure therefore offers little clear trading signal.
• Negative Sentiment: Morgan Stanley cut PDD to Equalweight from Overweight and lowered its price target to $90 from $129, citing risks around capital returns. The downgrade adds to concerns weighing on the shares. Article: PDD drops as Morgan Stanley cuts to Equalweight on capital return risks
• Negative Sentiment: Goldman Sachs flagged Temu-related costs ahead of PDD’s earnings test. Investor concern that these expenses could pressure profitability or growth expectations may continue to weigh on the stock. Article: PDD Holdings stock faces earnings test as Goldman flags Temu costs

Wall Street Analyst Weigh In

A number of analysts recently commented on PDD shares. Weiss Ratings upgraded shares of PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, October 27th. Bank of America reiterated a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. JPMorgan Chase & Co. decreased their target price on PDD from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, September 10th. Deutsche Bank Aktiengesellschaft upgraded PDD from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. Finally, Morgan Stanley lowered PDD from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $129.00 to $90.00 in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PDD presently has an average rating of “Hold” and a consensus price target of $107.31.

PDD Company Profile

PDD Holdings Inc. operates e-commerce platforms that connect consumers with merchants and other suppliers. Its businesses include Pinduoduo, a marketplace focused on China, and Temu, an international online marketplace. Pinduoduo uses interactive shopping features, including group buying, and offers products across categories such as groceries, apparel, home goods and electronics. The platform has also emphasized agricultural products, connecting farmers with consumers and other buyers. Temu serves customers in multiple markets outside China and offers a wide range of merchandise from suppliers and brands.