Nykredit A S purchased a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 162,497 shares of the company’s stock, valued at approximately $12,395,000.
Several other large investors also recently bought and sold shares of the company. Focus Partners Wealth raised its stake in shares of PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the period. Intech Investment Management LLC boosted its stake in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after purchasing an additional 395 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of PDD by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after purchasing an additional 637 shares during the period. Cerity Partners LLC grew its holdings in PDD by 2.0% during the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after purchasing an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in PDD by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after buying an additional 369 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.
Wall Street Analyst Weigh In
PDD has been the subject of a number of analyst reports. Daiwa Securities Group reissued a “hold” rating and issued a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Bank of America reissued a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Sanford C. Bernstein cut their target price on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Finally, BNP Paribas Exane initiated coverage on shares of PDD in a research note on Monday, June 15th. They issued an “underperform” rating and a $89.00 price target for the company. Six 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $117.17.
PDD Trading Up 0.7%
Shares of PDD opened at $82.21 on Friday. The firm has a market cap of $117.02 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 0.62 and a beta of -0.01. The stock has a 50 day moving average of $85.72 and a 200-day moving average of $92.32. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41.
PDD (NASDAQ:PDD – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The business had revenue of $16.54 billion for the quarter. On average, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.5 earnings per share for the current fiscal year.
PDD Profile
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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