AIA Group Ltd Acquires 9,820 Shares of PDD Holdings Inc. Sponsored ADR $PDD

AIA Group Ltd lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 27.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 45,358 shares of the company’s stock after purchasing an additional 9,820 shares during the period. AIA Group Ltd’s holdings in PDD were worth $4,635,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Advisory Services Network LLC increased its stake in PDD by 0.7% in the third quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after purchasing an additional 102 shares during the period. Wealthfront Advisers LLC grew its stake in PDD by 3.6% in the first quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company’s stock worth $369,000 after purchasing an additional 127 shares in the last quarter. Range Financial Group LLC grew its stake in PDD by 3.8% in the fourth quarter. Range Financial Group LLC now owns 3,620 shares of the company’s stock worth $410,000 after purchasing an additional 131 shares in the last quarter. Focus Partners Wealth increased its holdings in PDD by 1.0% during the 4th quarter. Focus Partners Wealth now owns 13,886 shares of the company’s stock worth $1,512,000 after purchasing an additional 142 shares during the period. Finally, Fifth Third Bancorp increased its holdings in PDD by 4.3% during the 4th quarter. Fifth Third Bancorp now owns 3,649 shares of the company’s stock worth $414,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PDD. Daiwa Securities Group reiterated a “hold” rating and issued a $80.00 target price on shares of PDD in a report on Tuesday, June 23rd. Benchmark cut their price target on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research note on Wednesday, May 27th. Finally, BNP Paribas Exane initiated coverage on shares of PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $124.64.

PDD Stock Performance

Shares of NASDAQ PDD opened at $84.14 on Monday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The stock’s fifty day simple moving average is $85.72 and its two-hundred day simple moving average is $97.60. The stock has a market capitalization of $119.76 billion and a PE ratio of 9.09.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.57 earnings per share. On average, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.