BIT Capital GmbH Has $607,000 Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

BIT Capital GmbH lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 97.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,356 shares of the company’s stock after selling 178,067 shares during the quarter. BIT Capital GmbH’s holdings in PDD were worth $607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares in the last quarter. Binnacle Investments Inc increased its holdings in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares during the period. Wexford Capital LP bought a new position in PDD in the 3rd quarter valued at about $44,000. Assetmark Inc. increased its holdings in PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares during the period. Finally, Larson Financial Group LLC increased its holdings in PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 353 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of NASDAQ PDD opened at $85.07 on Friday. The company has a market capitalization of $121.09 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 0.81 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 52-week low of $81.56 and a 52-week high of $139.41. The company’s 50 day moving average price is $97.20 and its 200-day moving average price is $104.68.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on PDD shares. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Benchmark decreased their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Sanford C. Bernstein decreased their target price on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.33.

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.