Freemont Capital Pte Ltd Makes New $1.14 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Freemont Capital Pte Ltd bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,927 shares of the company’s stock, valued at approximately $1,138,632. PDD comprises approximately 0.0% of Freemont Capital Pte Ltd’s portfolio, making the stock its 4th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of PDD by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after acquiring an additional 425,908 shares during the period. H&H International Investment LLC grew its stake in PDD by 71.2% in the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after buying an additional 8,211,600 shares in the last quarter. Norges Bank bought a new stake in shares of PDD in the 4th quarter worth approximately $1,065,446,000. Geode Capital Management LLC increased its holdings in shares of PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after purchasing an additional 359,921 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its position in shares of PDD by 4.2% during the fourth quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock valued at $725,465,000 after purchasing an additional 258,888 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PDD shares. Sanford C. Bernstein dropped their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. Zacks Research raised shares of PDD from a “strong sell” rating to a “hold” rating in a report on Tuesday. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. Finally, Morgan Stanley set a $129.00 price target on shares of PDD in a report on Wednesday, May 27th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $117.17.

PDD Stock Up 0.9%

NASDAQ PDD traded up $0.74 during trading hours on Friday, hitting $85.43. 4,385,604 shares of the company were exchanged, compared to its average volume of 8,054,252. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.41. The firm has a market cap of $121.60 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 0.71 and a beta of 0.02. The company has a 50 day moving average of $84.94 and a two-hundred day moving average of $93.09.

PDD (NASDAQ:PDD) last released its earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The firm had revenue of $16.54 billion during the quarter. On average, equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

About PDD

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.