11,599 PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Sanders Capital LLC

Sanders Capital LLC boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,948,316 shares of the company’s stock after purchasing an additional 11,599 shares during the period. Sanders Capital LLC’s holdings in PDD were worth $619,492,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on PDD. JPMorgan Chase & Co. lowered their price target on shares of PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. Zacks Research raised PDD from a “strong sell” rating to a “hold” rating in a 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. Arete Research downgraded PDD from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Monday, September 7th. Finally, Weiss Ratings upgraded PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, October 27th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $110.31.

View Our Latest Stock Report on PDD

PDD Stock Performance

NASDAQ PDD traded down $0.92 during trading on Friday, hitting $83.03. 6,501,645 shares of the company’s stock traded hands, compared to its average volume of 5,289,521. The stock has a market capitalization of $118.18 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.65 and a beta of -0.03. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.12. The business has a 50 day moving average of $79.82 and a 200-day moving average of $90.54.

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

PDD Company Profile

(Free Report)

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.

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