Fideuram Asset Management Ireland dac bought a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 89,220 shares of the company’s stock, valued at approximately $10,509,000. PDD makes up approximately 0.8% of Fideuram Asset Management Ireland dac’s investment portfolio, making the stock its 26th largest position.
A number of other hedge funds also recently modified their holdings of the business. Yunqi Capital Ltd lifted its holdings in shares of PDD by 27.8% in the fourth quarter. Yunqi Capital Ltd now owns 185,100 shares of the company’s stock valued at $20,988,000 after purchasing an additional 40,300 shares in the last quarter. National Pension Service lifted its holdings in shares of PDD by 9.7% in the fourth quarter. National Pension Service now owns 196,838 shares of the company’s stock valued at $22,319,000 after purchasing an additional 17,375 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of PDD by 21.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 17,704 shares of the company’s stock valued at $2,007,000 after purchasing an additional 3,076 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of PDD by 721.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 180,704 shares of the company’s stock valued at $20,490,000 after purchasing an additional 158,704 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of PDD by 14.8% in the fourth quarter. Intech Investment Management LLC now owns 23,223 shares of the company’s stock valued at $2,633,000 after purchasing an additional 2,993 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.
PDD Trading Down 4.1%
Shares of NASDAQ:PDD opened at $83.03 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $81.56 and a 1 year high of $139.41. The business has a fifty day simple moving average of $98.70 and a 200 day simple moving average of $106.55. The firm has a market cap of $118.18 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 0.82 and a beta of 0.04.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on PDD. Sanford C. Bernstein reduced their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a report on Wednesday. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Barclays reiterated an “equal weight” rating and set a $89.00 price objective (down from $165.00) on shares of PDD in a report on Thursday. Finally, Nomura upgraded PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Friday, March 27th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.
Read Our Latest Research Report on PDD
Key Headlines Impacting PDD
Here are the key news stories impacting PDD this week:
- Positive Sentiment: Some analysts still see meaningful upside, with Benchmark maintaining a buy rating even after lowering its price target, and another note describing the recent sell-off as potentially overdone. Benchmark price target update Seeking Alpha article
- Neutral Sentiment: PDD reported Q1 revenue growth of about 11% to 17% and transaction-services strength, but earnings and revenue still missed Wall Street estimates, showing the business is growing but not fast enough to meet expectations. Businesswire investigation Zacks earnings report
- Neutral Sentiment: The company is also facing multiple securities-fraud investigation notices from law firms, which can add headline risk but do not necessarily change fundamentals on their own. TMCnet investigation notice Howard G. Smith investigation
- Negative Sentiment: Investors are reacting to weaker-than-expected profit and revenue, plus management’s heavier spending on supply-chain expansion and Temu growth, which may pressure margins in the near term. MSN revenue miss article Proactive Investors article WSJ article
- Negative Sentiment: Wall Street has reset expectations lower, with Barclays sharply reducing its target and other coverage pointing to rising spending and tougher competition, reinforcing a more cautious outlook for PDD. Barclays target cut Supply chain push article
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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