Formuepleje A S Acquires New Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Formuepleje A S bought a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,412 shares of the company’s stock, valued at approximately $947,000.

Several other large investors also recently added to or reduced their stakes in the business. Advisory Services Network LLC increased its stake in shares of PDD by 0.7% during the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after purchasing an additional 102 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in PDD by 3.6% in the first quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company’s stock worth $369,000 after purchasing an additional 127 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in PDD by 2.9% in the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company’s stock worth $478,000 after purchasing an additional 134 shares in the last quarter. Focus Partners Wealth boosted its holdings in PDD by 1.0% in the fourth quarter. Focus Partners Wealth now owns 13,886 shares of the company’s stock worth $1,512,000 after purchasing an additional 142 shares in the last quarter. Finally, Mariner LLC increased its position in PDD by 0.8% during the fourth quarter. Mariner LLC now owns 22,092 shares of the company’s stock worth $2,506,000 after buying an additional 165 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of analyst reports. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Zacks Research raised PDD from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Sanford C. Bernstein cut their price objective 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. Citigroup reduced their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $117.17.

PDD Price Performance

Shares of PDD opened at $82.21 on Monday. The company has a market capitalization of $117.02 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.62 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The company’s fifty day moving average price is $85.72 and its 200 day moving average price is $92.27.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. The company had revenue of $16.54 billion during the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. Analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.5 earnings per share for the current year.

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.