25,504 PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by M&G PLC

M&G PLC boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 274,120 shares of the company’s stock after buying an additional 25,504 shares during the quarter. M&G PLC’s holdings in PDD were worth $21,381,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. H&H International Investment LLC lifted its stake in PDD by 71.2% in the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock valued at $2,017,881,000 after buying an additional 8,211,600 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of PDD in the third quarter valued at approximately $202,907,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of PDD by 126.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,609,370 shares of the company’s stock worth $164,445,000 after acquiring an additional 898,639 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of PDD by 306.2% during the first quarter. Renaissance Technologies LLC now owns 1,112,700 shares of the company’s stock worth $113,696,000 after acquiring an additional 838,800 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of PDD by 40.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,121,534 shares of the company’s stock worth $87,412,000 after acquiring an additional 325,066 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

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

PDD Trading Down 1.4%

Shares of PDD stock opened at $79.40 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.12. The firm’s fifty day moving average price is $79.63 and its two-hundred day moving average price is $90.28. The firm has a market capitalization of $113.02 billion, a P/E 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, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PDD shares. Benchmark dropped their price objective on shares of PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. Morgan Stanley lowered shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $129.00 to $90.00 in a research note on Monday. Arete Research lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, September 7th. Deutsche Bank Aktiengesellschaft upgraded PDD from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. Finally, JPMorgan Chase & Co. dropped their price target on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, September 10th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and a consensus price target of $107.31.

About PDD

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.