Penserra Capital Management LLC Trims Stock Position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Penserra Capital Management LLC lessened its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,671 shares of the company’s stock after selling 11,495 shares during the period. Penserra Capital Management LLC’s holdings in PDD were worth $28,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after buying an additional 132 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 purchasing an additional 249 shares in the last quarter. Jones Financial Companies Lllp increased its stake 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 purchasing 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 about $165,000. Finally, Siemens Fonds Invest GmbH purchased a new stake in shares of PDD during the fourth quarter worth about $192,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Down 0.6%

PDD opened at $103.35 on Friday. The firm has a market capitalization of $143.88 billion, a PE ratio of 11.12, a PEG ratio of 1.45 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The firm’s 50-day moving average price is $106.84 and its 200 day moving average price is $108.51.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.88). The business had revenue of $13.19 billion for 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 revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $20.72 earnings per share. As a group, analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PDD. China Renaissance reissued a “hold” rating and set a $107.00 target price on shares of PDD in a research note on Wednesday, May 28th. Nomura reissued a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Benchmark cut their target price on shares of PDD from $160.00 to $128.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. JPMorgan Chase & Co. cut their target price on shares of PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Finally, Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.