322,536 Shares of PDD Holdings Inc. Sponsored ADR $PDD Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 322,536 shares of the company’s stock, valued at approximately $25,138,000.

Other hedge funds have also modified their holdings of the company. H&H International Investment LLC grew its holdings 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 purchasing an additional 8,211,600 shares during the period. Assenagon Asset Management S.A. purchased a new position in PDD during the third quarter worth approximately $202,907,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in 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 purchasing an additional 898,639 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of PDD by 306.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,112,700 shares of the company’s stock valued at $113,696,000 after purchasing an additional 838,800 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of PDD by 40.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,121,534 shares of the company’s stock valued at $87,412,000 after purchasing an additional 325,066 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Trading Up 3.9%

Shares of PDD stock opened at $81.68 on Tuesday. The company has a fifty day moving average price of $80.16 and a 200 day moving average price of $91.02. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.12. The stock has a market cap of $116.26 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 0.61 and a beta of -0.05.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (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. Analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.02 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PDD. Deutsche Bank Aktiengesellschaft raised shares of PDD from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. cut their target price on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, September 10th. Benchmark cut their target price on PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a research report on Tuesday, August 25th. Bank of America reiterated a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. Finally, Weiss Ratings raised PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, October 27th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PDD currently has a consensus rating of “Hold” and a consensus target price of $110.31.

PDD Company 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.