Fosun International Ltd Acquires New Shares in PDD Holdings Inc. Sponsored ADR $PDD

Fosun International Ltd acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,038 shares of the company’s stock, valued at approximately $1,252,000. PDD makes up about 0.3% of Fosun International Ltd’s portfolio, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Prudential PLC lifted its position in PDD by 12.5% in the 4th quarter. Prudential PLC now owns 1,751,095 shares of the company’s stock valued at $198,557,000 after acquiring an additional 194,192 shares in the last quarter. OPTIMAS CAPITAL Ltd lifted its position in PDD by 269.5% in the 4th quarter. OPTIMAS CAPITAL Ltd now owns 120,256 shares of the company’s stock valued at $13,636,000 after acquiring an additional 87,707 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in PDD by 9.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 76,875 shares of the company’s stock valued at $8,717,000 after acquiring an additional 6,590 shares in the last quarter. Cibc World Market Inc. lifted its position in PDD by 110.9% in the 4th quarter. Cibc World Market Inc. now owns 6,615 shares of the company’s stock valued at $750,000 after acquiring an additional 3,478 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in PDD by 6.2% in the 4th quarter. CIBC Asset Management Inc now owns 150,924 shares of the company’s stock valued at $17,113,000 after acquiring an additional 8,813 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PDD has been the topic of several research analyst reports. Citigroup lowered their price target on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Friday, April 17th. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.33.

PDD Price Performance

PDD stock opened at $85.88 on Friday. The company has a market cap of $122.24 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 0.80 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 1 year low of $81.56 and a 1 year high of $139.41. The stock’s fifty day moving average price is $97.55 and its 200-day moving average price is $104.82.

PDD (NASDAQ:PDD) last announced its earnings results on Friday, May 15th. The company reported $0.34 EPS for the quarter. PDD had a return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 million for the quarter. As a group, analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.98 earnings per share 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.