Massachusetts Financial Services Co. MA lifted its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 87.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,084,979 shares of the company's stock after purchasing an additional 506,818 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.08% of PDD worth $128,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in PDD during the 4th quarter valued at $165,000. OneDigital Investment Advisors LLC bought a new stake in PDD during the 1st quarter valued at $204,000. Finally, Gunderson Capital Management Inc. bought a new stake in PDD during the 1st quarter valued at $218,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD stock traded up $1.05 during trading hours on Friday, hitting $109.00. 10,523,399 shares of the stock traded hands, compared to its average volume of 10,978,986. The firm's 50 day moving average price is $106.34 and its 200-day moving average price is $109.00. The stock has a market capitalization of $151.74 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 1.53 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67.

PDD (NASDAQ:PDD - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The company had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $20.72 EPS. Research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

PDD has been the subject of a number of research analyst reports. Jefferies Financial Group set a $121.00 target price on PDD and gave the company a "buy" rating in a research report on Tuesday, May 27th. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. China Renaissance reissued a "hold" rating and issued a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.

Read Our Latest Analysis on PDD

(Free Report)

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.

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