PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Barings LLC

Barings LLC boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 21.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 654,567 shares of the company’s stock after acquiring an additional 115,567 shares during the period. PDD comprises 1.4% of Barings LLC’s investment portfolio, making the stock its 11th biggest holding. Barings LLC’s holdings in PDD were worth $74,221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Norges Bank acquired a new position in PDD during the 4th quarter worth approximately $1,065,446,000. Assenagon Asset Management S.A. grew its holdings in PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after acquiring an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in PDD during the 2nd quarter worth approximately $482,273,000. Orbis Allan Gray Ltd grew its holdings in PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after acquiring an additional 3,250,416 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in PDD during the 3rd quarter worth approximately $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $81.30 on Friday. The company has a fifty day moving average price of $95.73 and a 200 day moving average price of $103.55. PDD Holdings Inc. Sponsored ADR has a 12 month low of $78.87 and a 12 month high of $139.41. The company has a market cap of $115.72 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 EPS. As a group, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Benchmark lowered their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Sanford C. Bernstein lowered their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a 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 report on Friday, April 17th. 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 report on Thursday, May 28th. Finally, Jefferies Financial Group restated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.33.

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.