PDD Holdings Inc. Sponsored ADR $PDD Stock: ProShare Advisors LLC Boosts Stake

ProShare Advisors LLC raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 6.1% in the 3rd quarter, Holdings Channel reports. The firm owned 681,188 shares of the company’s stock after acquiring an additional 38,990 shares during the period. ProShare Advisors LLC’s holdings in PDD were worth $53,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new stake in PDD during the second quarter valued at approximately $38,000. Integrated Wealth Concepts LLC bought a new position in shares of PDD during the second quarter valued at approximately $52,000. Ramsey Quantitative Systems bought a new position in shares of PDD in the 2nd quarter worth $53,000. GK Wealth Management LLC purchased a new position in shares of PDD in the 3rd quarter worth approximately $55,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of PDD by 166.7% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $122,000 after purchasing an additional 1,000 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

Shares of PDD opened at $78.61 on Monday. The firm has a market cap of $111.89 billion, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.62 and a beta of -0.05. The company’s 50-day moving average price is $80.30 and its 200 day moving average price is $91.18. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.12.

PDD (NASDAQ:PDD) last released its earnings results 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 firm had revenue of $16.54 billion during the quarter. Equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research raised PDD from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft raised shares of PDD from a “hold” rating to a “buy” rating in a report on Thursday. Benchmark lowered their target price on shares of PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a research note on Tuesday, August 25th. Weiss Ratings upgraded PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, October 27th. Finally, Arete Research cut PDD from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, September 7th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $110.31.

PDD Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.