BRIGHT VALLEY CAPITAL Ltd Invests $8.23 Million in PDD Holdings Inc. Sponsored ADR $PDD

BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 72,600 shares of the company’s stock, valued at approximately $8,232,000. PDD makes up about 3.1% of BRIGHT VALLEY CAPITAL Ltd’s investment portfolio, making the stock its 6th biggest position.

A number of other large investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased its position in PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Binnacle Investments Inc raised its stake in shares of 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 acquiring an additional 200 shares in the last quarter. Wexford Capital LP acquired a new stake in PDD in the 3rd quarter worth approximately $44,000. Assetmark Inc. lifted its holdings in PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position 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 purchasing an additional 353 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PDD has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Benchmark reduced 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. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Friday, April 17th. Morgan Stanley set a $129.00 price objective on shares of PDD in a report on Wednesday, May 27th. Finally, Barclays cut shares of PDD from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $165.00 to $89.00 in a research note 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.33.

PDD Price Performance

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

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