Evergreen Quality Fund GP Ltd. Raises Position in PDD Holdings Inc. Sponsored ADR $PDD

Evergreen Quality Fund GP Ltd. grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 863,016 shares of the company’s stock after purchasing an additional 58,962 shares during the period. PDD makes up about 1.9% of Evergreen Quality Fund GP Ltd.’s portfolio, making the stock its 12th biggest position. Evergreen Quality Fund GP Ltd.’s holdings in PDD were worth $97,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PDD. Exchange Traded Concepts LLC lifted its holdings in shares of PDD by 11.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after acquiring an additional 25,369 shares during the last quarter. Step Capital Management Pte. Ltd. bought a new position in PDD during the 4th quarter valued at about $8,504,000. LBP AM SA purchased a new stake in PDD in the 4th quarter worth about $6,690,000. Triata Capital Ltd raised its position in PDD by 55.7% in the 3rd quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock worth $336,304,000 after purchasing an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd bought a new stake in PDD in the third quarter worth about $419,287,000. Institutional investors own 39.83% of the company’s stock.

PDD Trading Down 2.1%

PDD opened at $79.86 on Thursday. The company has a market capitalization of $113.67 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.65 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 12-month low of $78.87 and a 12-month high of $139.41. The business’s fifty day simple moving average is $94.17 and its 200-day simple moving average is $102.62.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share 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 the consensus estimate of $15.92 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

Analysts Set New Price Targets

PDD has been the topic of a number of analyst reports. Sanford C. Bernstein cut their target price on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Friday, April 17th. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Benchmark reduced their target price on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Finally, Morgan Stanley set a $129.00 price target on shares of PDD in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.