Fullerton Fund Management Co Ltd. Acquires Shares of 8,179 PDD Holdings Inc. Sponsored ADR $PDD

Fullerton Fund Management Co Ltd. acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,179 shares of the company’s stock, valued at approximately $927,000.

Other hedge funds also recently bought and sold shares of the company. Binnacle Investments Inc grew its position 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 acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC grew its position in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares in the last quarter. Wexford Capital LP bought a new position in shares of PDD during the 3rd quarter worth $44,000. Smartleaf Asset Management LLC grew its position in shares of PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after buying an additional 263 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of PDD during the 4th quarter worth $44,000. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD stock opened at $81.59 on Wednesday. The stock has a 50-day moving average of $94.60 and a two-hundred day moving average of $102.87. PDD Holdings Inc. Sponsored ADR has a one year low of $78.87 and a one year high of $139.41. The stock has a market cap of $116.14 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.87 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 analysts’ consensus estimates of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter last year, the business posted $1.57 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PDD shares. Citigroup dropped their price target on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley set a $129.00 price target on PDD in a research report on Wednesday, May 27th. BNP Paribas Exane started coverage on PDD in a research report on Monday. They set an “underperform” rating and a $89.00 price target on the stock. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Sanford C. Bernstein dropped their price target 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. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $128.08.

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.