PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by M&G PLC

M&G PLC increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 274,120 shares of the company’s stock after buying an additional 25,504 shares during the period. M&G PLC’s holdings in PDD were worth $21,381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust acquired a new position in shares of PDD in the second quarter valued at $38,000. Integrated Wealth Concepts LLC acquired a new position in shares of PDD in the 2nd quarter valued at $52,000. Ramsey Quantitative Systems bought a new stake in PDD in the second quarter valued at about $53,000. GK Wealth Management LLC bought a new stake in PDD in the third quarter valued at about $55,000. Finally, FNY Investment Advisers LLC increased its stake in PDD by 166.7% in the second quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $122,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Key Headlines Impacting PDD

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

PDD has been the subject of several recent research reports. Benchmark dropped their price target on shares of PDD from $127.00 to $114.00 and set a “buy” rating for the company in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft raised PDD from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. Morgan Stanley lowered PDD from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $129.00 to $90.00 in a research note on Monday. Bank of America reissued a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. cut their target price on PDD from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, September 10th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PDD currently has an average rating of “Hold” and an average target price of $107.31.

PDD Stock Down 1.4%

Shares of PDD stock opened at $79.40 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.12. The company has a market capitalization of $113.02 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.64 and a beta of -0.03. The firm has a 50-day moving average price of $79.63 and a 200 day moving average price of $90.28.

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

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.