AI Squared Management Ltd Has $3.08 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

AI Squared Management Ltd decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 85.0% in the fourth quarter, Holdings Channel reports. The fund owned 27,143 shares of the company’s stock after selling 153,365 shares during the period. PDD accounts for 3.6% of AI Squared Management Ltd’s investment portfolio, making the stock its 13th biggest holding. AI Squared Management Ltd’s holdings in PDD were worth $3,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research firms recently commented on PDD. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. Barclays cut shares of PDD from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Benchmark cut their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.33.

PDD Stock Performance

Shares of PDD stock opened at $81.30 on Friday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $78.87 and a 52-week high of $139.41. The stock has a market cap of $115.72 billion, a price-to-earnings ratio of 8.78, a P/E/G ratio of 0.85 and a beta of -0.02. The firm has a fifty day moving average of $95.73 and a 200-day moving average of $103.55.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the prior year, the company posted $1.57 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current 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.