PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,875 shares of the company’s stock after acquiring an additional 6,590 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PDD were worth $8,717,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PDD. Norges Bank acquired a new position in PDD in the fourth quarter valued at $1,065,446,000. Assenagon Asset Management S.A. grew its position in PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after acquiring an additional 5,070,827 shares during the period. Himalaya Capital Management LLC purchased a new stake in PDD during the second quarter valued at about $482,273,000. Orbis Allan Gray Ltd grew its position in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after acquiring an additional 3,250,416 shares during the period. Finally, Aspex Management HK Ltd purchased a new stake in PDD during the third quarter valued at about $419,287,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of NASDAQ PDD opened at $85.07 on Monday. 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 50-day moving average of $97.20 and a 200-day moving average of $104.51. The company has a market capitalization 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 issued its earnings results on Friday, May 15th. The company reported $0.34 earnings per share 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. Research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup lowered their price target on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Sanford C. Bernstein lowered their price target on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Benchmark lowered their price target on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Finally, Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and an average price target of $131.33.

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.