PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 23.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 221,109 shares of the company’s stock after acquiring an additional 41,934 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in PDD were worth $25,072,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in PDD in the 4th quarter valued at $1,065,446,000. Assenagon Asset Management S.A. raised its position in PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after purchasing an additional 5,070,827 shares during the last quarter. Himalaya Capital Management LLC purchased a new position in PDD during the 2nd quarter worth $482,273,000. Orbis Allan Gray Ltd lifted its stake in shares of PDD by 135.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after acquiring an additional 3,250,416 shares during the period. Finally, Aspex Management HK Ltd acquired a new stake in shares of PDD in the 3rd quarter worth $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

PDD has been the subject of several recent analyst reports. Sanford C. Bernstein reduced their target price 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. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Morgan Stanley set a $129.00 target price on shares of PDD in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.33.

PDD Price Performance

PDD stock opened at $85.07 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $81.56 and a 1-year high of $139.41. The firm has a fifty day moving average price of $97.20 and a two-hundred day moving average price of $104.68. The firm has a market cap of $121.09 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 0.81 and a beta of -0.02.

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