Advisors Preferred LLC Acquires 6,794 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Advisors Preferred LLC grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 197.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,230 shares of the company’s stock after purchasing an additional 6,794 shares during the period. Advisors Preferred LLC’s holdings in PDD were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of PDD in the fourth quarter valued at approximately $1,065,446,000. Assenagon Asset Management S.A. grew its position in shares of PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC bought a new position in shares of PDD during the 2nd quarter worth $482,273,000. Dodge & Cox purchased a new position in shares of PDD during the fourth quarter valued at $503,429,000. Finally, Orbis Allan Gray Ltd increased its stake in shares of PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after buying an additional 3,250,416 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 0.8%

NASDAQ:PDD opened at $83.91 on Wednesday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The company has a market cap of $119.44 billion and a PE ratio of 9.06. The company’s 50 day moving average is $86.64 and its two-hundred day moving average is $98.21.

PDD (NASDAQ:PDD) last announced 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). 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 period in the prior year, the company posted $1.57 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on PDD. Morgan Stanley set a $129.00 price objective on shares of PDD in a research note on Wednesday, May 27th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, April 17th. Barclays cut shares of PDD from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Daiwa Securities Group reiterated a “hold” rating and set a $80.00 price objective on shares of PDD in a research note on Tuesday, June 23rd. Finally, Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $124.64.

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.