PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft reduced its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 97.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,670 shares of the company’s stock after selling 198,403 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in PDD were worth $458,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Advisory Services Network LLC raised its stake in PDD by 0.7% during the third quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after acquiring an additional 102 shares during the period. Wealthfront Advisers LLC boosted its stake in PDD by 3.6% in the first quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company’s stock valued at $369,000 after acquiring an additional 127 shares during the period. Range Financial Group LLC boosted its stake in PDD by 3.8% in the fourth quarter. Range Financial Group LLC now owns 3,620 shares of the company’s stock valued at $410,000 after acquiring an additional 131 shares during the period. Focus Partners Wealth grew its holdings in shares of PDD by 1.0% during the fourth quarter. Focus Partners Wealth now owns 13,886 shares of the company’s stock valued at $1,512,000 after purchasing an additional 142 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of PDD by 4.3% during the fourth quarter. Fifth Third Bancorp now owns 3,649 shares of the company’s stock valued at $414,000 after purchasing an additional 151 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PDD. BNP Paribas Exane began coverage on PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 price target on the stock. Citigroup lowered their price objective on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Daiwa Securities Group reissued a “hold” rating and set a $80.00 price target on shares of PDD in a report on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.64.

PDD Price Performance

PDD opened at $84.83 on Wednesday. The stock’s 50 day moving average price is $85.25 and its 200 day moving average price is $97.20. The stock has a market cap of $120.75 billion and a P/E ratio of 9.16. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41.

PDD (NASDAQ:PDD) last announced its quarterly earnings results 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). The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 EPS. Equities analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current 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.