BI Asset Management Fondsmaeglerselskab A S Trims Position in PDD Holdings Inc. Sponsored ADR $PDD

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,209 shares of the company’s stock after selling 9,900 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PDD were worth $21,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. 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 purchasing an additional 238 shares during the last quarter. Binnacle Investments Inc boosted its holdings in 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 purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares during the last quarter. Wexford Capital LP acquired a new position in PDD in the 3rd quarter valued at about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of PDD in the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PDD. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Sanford C. Bernstein reduced their target price on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Friday, April 17th. Finally, Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $128.08.

PDD Price Performance

NASDAQ:PDD opened at $79.56 on Friday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $78.51 and a 52 week high of $139.41. The stock’s fifty day moving average is $93.29 and its two-hundred day moving average is $102.20. The stock has a market capitalization of $113.25 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 0.63 and a beta of -0.02.

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 analysts’ consensus estimates of $2.40 by ($1.02). The firm had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 earnings per share. On average, sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

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.