21,000 PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Candriam S.C.A.

Candriam S.C.A. boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 32.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 86,300 shares of the company’s stock after buying an additional 21,000 shares during the quarter. Candriam S.C.A.’s holdings in PDD were worth $6,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. H&H International Investment LLC increased its stake in shares of PDD by 71.2% in the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after purchasing an additional 8,211,600 shares in the last quarter. Temasek Holdings Private Ltd lifted its holdings in PDD by 5.2% during the first quarter. Temasek Holdings Private Ltd now owns 4,926,061 shares of the company’s stock valued at $503,345,000 after purchasing an additional 243,167 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of PDD by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,737,229 shares of the company’s stock valued at $381,496,000 after purchasing an additional 252,537 shares during the period. Perseverance Asset Management International increased its stake in PDD by 10.2% in the 1st quarter. Perseverance Asset Management International now owns 2,161,676 shares of the company’s stock worth $220,880,000 after buying an additional 199,584 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in PDD during the third quarter valued at about $202,907,000. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PDD. JPMorgan Chase & Co. lowered their price target on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. Bank of America restated a “neutral” rating on shares of PDD in a research report on Wednesday, August 26th. Morgan Stanley cut shares of PDD from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $129.00 to $90.00 in a research note on Monday. Arete Research downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, September 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of PDD from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. Five investment 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.com, PDD presently has an average rating of “Hold” and an average price target of $107.31.

Key Stories 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

PDD Stock Down 1.4%

PDD stock opened at $79.40 on Wednesday. The company has a market cap of $113.02 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.64 and a beta of -0.03. The firm’s fifty day moving average is $79.63 and its 200 day moving average is $90.28. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.12.

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

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.