Himension Capital Singapore PTE. LTD. Purchases 18,127 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Himension Capital Singapore PTE. LTD. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 14.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,939 shares of the company’s stock after purchasing an additional 18,127 shares during the period. PDD accounts for approximately 1.1% of Himension Capital Singapore PTE. LTD.’s investment portfolio, making the stock its 17th biggest holding. Himension Capital Singapore PTE. LTD.’s holdings in PDD were worth $14,912,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Binnacle Investments Inc grew its stake in shares of 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares during the period. Wexford Capital LP bought a new stake in shares of PDD in the third quarter valued at approximately $44,000. Smartleaf Asset Management LLC grew its position in PDD by 230.7% during the fourth 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 PDD during the 4th quarter worth $44,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Trading Down 1.4%

PDD opened at $84.83 on Wednesday. The company has a market cap of $120.75 billion and a P/E ratio of 9.16. The company’s 50 day moving average is $85.25 and its 200-day moving average is $97.20. PDD Holdings Inc. Sponsored ADR has a 1-year low of $71.94 and a 1-year high of $139.41.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 EPS. On average, equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent analyst reports. Benchmark decreased their price target on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, May 28th. Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Citigroup cut their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average target price of $124.64.

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.