ABS Direct Equity Fund LLC Has $7.49 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

ABS Direct Equity Fund LLC lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,800 shares of the company’s stock after purchasing an additional 18,270 shares during the period. PDD accounts for 5.8% of ABS Direct Equity Fund LLC’s holdings, making the stock its 2nd biggest holding. ABS Direct Equity Fund LLC’s holdings in PDD were worth $7,486,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in PDD by 595.0% during the 4th 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 third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after acquiring an additional 263 shares during the last quarter. Wexford Capital LP acquired a new stake in PDD during the 3rd quarter valued at approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PDD during the 4th quarter valued at approximately $44,000. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $82.66 on Monday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The firm’s fifty day moving average is $84.42 and its 200 day moving average is $96.51. The company has a market capitalization of $117.66 billion and a PE ratio of 8.93.

PDD (NASDAQ:PDD) last issued its 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). PDD had a net margin of 21.86% and a return on equity of 24.32%. The firm had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent analyst reports. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Friday, April 17th. Daiwa Securities Group reiterated a “hold” rating and set a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 target price on shares of PDD in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $124.64.

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.