Brilliance Asset Management Ltd. Takes Position in PDD Holdings Inc. Sponsored ADR $PDD

Brilliance Asset Management Ltd. acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 595,174 shares of the company’s stock, valued at approximately $67,487,000. PDD accounts for about 26.5% of Brilliance Asset Management Ltd.’s holdings, making the stock its 2nd biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in PDD by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after purchasing an additional 425,908 shares during the period. Norges Bank acquired a new position in PDD in the 4th quarter worth about $1,065,446,000. Geode Capital Management LLC raised its holdings in PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after purchasing an additional 359,921 shares during the period. Assenagon Asset Management S.A. raised its holdings 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 worth $762,991,000 after purchasing an additional 5,070,827 shares during the period. Finally, Krane Funds Advisors LLC raised its holdings in PDD by 4.2% in the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock worth $725,465,000 after purchasing an additional 258,888 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $81.30 on Friday. The firm has a market capitalization of $115.72 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.85 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $78.87 and a fifty-two week high of $139.41. The stock has a 50 day moving average of $95.73 and a 200 day moving average of $103.55.

PDD (NASDAQ:PDD) last issued its quarterly earnings data 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). PDD had a return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PDD shares. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Citigroup reduced their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Sanford C. Bernstein reduced their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, May 27th. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Arete Research upgraded 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 investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.33.

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.