LB Partners LLC purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,000 shares of the company’s stock, valued at approximately $2,248,000. PDD comprises 2.0% of LB Partners LLC’s holdings, making the stock its 12th biggest holding.
Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the period. Binnacle Investments Inc lifted its holdings in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the period. Smartleaf Asset Management LLC lifted its holdings in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after buying an additional 263 shares during the period. Wexford Capital LP bought a new stake in shares of PDD in the 3rd quarter worth approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of PDD in the 4th quarter worth approximately $44,000. 39.83% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages recently commented on PDD. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a report on Friday, April 17th. Sanford C. Bernstein decreased their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Citigroup lowered their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $124.64.
PDD Stock Performance
NASDAQ PDD opened at $82.52 on Thursday. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The stock has a 50-day moving average of $89.24 and a 200 day moving average of $99.86. The company has a market capitalization of $117.46 billion and a price-to-earnings ratio of 8.91.
PDD (NASDAQ:PDD – Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The firm 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 business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.57 EPS. 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.
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