PDD Holdings Inc. Sponsored ADR $PDD is Capital Today Evergreen Fund L.P.’s Largest Position

Capital Today Evergreen Fund L.P. decreased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 34.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,634,077 shares of the company’s stock after selling 859,509 shares during the period. PDD comprises approximately 85.7% of Capital Today Evergreen Fund L.P.’s holdings, making the stock its biggest position. Capital Today Evergreen Fund L.P.’s holdings in PDD were worth $185,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its position in PDD by 4.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 128,886 shares of the company’s stock worth $14,614,000 after buying an additional 6,033 shares in the last quarter. Crake Asset Management LLP bought a new position in shares of PDD in the fourth quarter worth about $5,216,000. Norges Bank bought a new position in shares of PDD in the fourth quarter worth about $1,065,446,000. Eurizon SLJ Capital Ltd bought a new position in shares of PDD in the fourth quarter worth about $583,000. Finally, Belvedere Trading LLC bought a new position in shares of PDD in the fourth quarter worth about $269,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Key Stories Impacting PDD

Here are the key news stories impacting PDD this week:

• Positive Sentiment: One commentary piece argued the recent sell-off may be overdone and maintained a bullish view on PDD Holdings, suggesting some investors still see upside after the pullback. PDD Holdings: Unjustified Sell-Off, Strong Buy
• Neutral Sentiment: Benchmark lowered its price target on PDD but kept a buy rating, indicating Wall Street still sees meaningful upside even after trimming expectations. Benchmark price target cut
• Neutral Sentiment: Barclays cut its rating to equal weight and sharply reduced its price target, reflecting a more cautious stance on the stock’s near-term setup. Barclays downgrade
• Negative Sentiment: PDD’s latest quarterly results missed EPS and revenue estimates, even though revenue still rose year over year; investors focused on the miss as a sign growth is becoming harder to sustain. PDD Holdings Q1 Earnings Lag Estimates
• Negative Sentiment: Temu was hit with a €200 million EU fine over compliance issues, adding a fresh regulatory overhang for PDD’s fast-growing international business. Temu Hit With €200 Million EU Fine
• Negative Sentiment: Multiple law firms announced or continued securities-fraud investigations tied to PDD, which can weigh on sentiment and increase headline risk for shareholders. Securities Fraud Investigation Continues

Wall Street Analyst Weigh In

PDD has been the subject of a number of recent analyst reports. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Friday, April 17th. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday. Benchmark dropped their price objective on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Sanford C. Bernstein dropped their price objective on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.33.

PDD Stock Performance

Shares of PDD stock opened at $84.44 on Monday. The stock has a 50 day moving average of $98.37 and a 200 day moving average of $106.17. PDD Holdings Inc. Sponsored ADR has a 12 month low of $81.56 and a 12 month high of $139.41. The firm has a market cap of $120.19 billion, a PE ratio of 9.12, a PEG ratio of 0.80 and a beta of -0.01.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.34 EPS for the quarter. PDD had a return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 million during the quarter. As a group, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.98 earnings per share for the current fiscal year.

PDD Company 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.