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

Matthews International Capital Management LLC cut its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 32.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 88,294 shares of the company’s stock after selling 43,186 shares during the period. PDD makes up about 2.8% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Matthews International Capital Management LLC’s holdings in PDD were worth $6,882,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. M&G PLC raised its position in PDD by 10.3% during the third quarter. M&G PLC now owns 274,120 shares of the company’s stock worth $21,381,000 after acquiring an additional 25,504 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of PDD by 1.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 931,904 shares of the company’s stock valued at $71,291,000 after acquiring an additional 10,308 shares during the period. Candriam S.C.A. increased its stake in shares of PDD by 32.2% during the 3rd 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 last quarter. Twin Peaks Capital Ltd acquired a new position in shares of PDD during the 3rd quarter worth about $5,066,000. Finally, International Assets Investment Management LLC raised its holdings in shares of PDD by 23.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,434 shares of the company’s stock valued at $339,000 after purchasing an additional 841 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD News Roundup

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 Price Performance

Shares of PDD opened at $79.40 on Wednesday. The firm has a market capitalization of $113.02 billion, a PE ratio of 8.74, a PEG ratio of 0.64 and a beta of -0.03. The company’s 50-day moving average is $79.63 and its 200-day moving average is $90.28. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.12.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PDD. Deutsche Bank Aktiengesellschaft upgraded shares of PDD from a “hold” rating to a “buy” rating in a research note on Thursday, October 29th. Weiss Ratings raised PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, October 27th. Bank of America restated a “neutral” rating on shares of PDD in a research note on Wednesday, August 26th. Benchmark cut their price objective on PDD from $127.00 to $114.00 and set a “buy” rating for the company in a research report on Tuesday, August 25th. Finally, Zacks Research upgraded PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Five equities 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. According to MarketBeat, PDD has an average rating of “Hold” and an average price target of $107.31.

PDD 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.