Capital International Investors Grows Position in PDD Holdings Inc. Sponsored ADR $PDD

Capital International Investors boosted its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 20.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,698,655 shares of the company’s stock after buying an additional 807,336 shares during the quarter. Capital International Investors’ holdings in PDD were worth $532,780,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the period. Binnacle Investments Inc increased its holdings in PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Wexford Capital LP purchased a new stake in PDD during the third quarter worth about $44,000. Assetmark Inc. increased its holdings in PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after buying an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in PDD by 720.4% during the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after buying an additional 353 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PDD shares. Morgan Stanley set a $129.00 price target on PDD in a research report on Wednesday, May 27th. Citigroup dropped their price target on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Sanford C. Bernstein dropped their price target 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. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Friday, April 17th. Finally, Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, PDD presently has an average rating of “Moderate Buy” and a consensus price target of $131.33.

PDD Price Performance

PDD stock opened at $85.07 on Monday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $81.56 and a 52 week high of $139.41. The business has a 50-day simple moving average of $97.20 and a 200 day simple moving average of $104.51. The stock has a market cap of $121.09 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 0.80 and a beta of -0.02.

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