Kepler Cheuvreux Suisse SA Sells 13,125 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Kepler Cheuvreux Suisse SA cut its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 46.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,882 shares of the company’s stock after selling 13,125 shares during the period. Kepler Cheuvreux Suisse SA’s holdings in PDD were worth $1,521,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Binnacle Investments Inc boosted its stake in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC grew its holdings in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Wexford Capital LP purchased a new stake in PDD in the 3rd quarter worth $44,000. Smartleaf Asset Management LLC lifted its position in shares of PDD by 230.7% in 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 purchased a new stake in shares of PDD during the 4th quarter worth approximately $44,000. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of NASDAQ PDD opened at $82.39 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The business has a fifty day simple moving average of $88.55 and a two-hundred day simple moving average of $99.53. The firm has a market cap of $117.27 billion and a PE ratio of 8.90.

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

Analyst Ratings Changes

PDD has been the topic of a number of recent research reports. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Friday, April 17th. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. Daiwa Securities Group restated a “hold” rating and issued a $80.00 target price on shares of PDD in a report on Tuesday, June 23rd. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Sanford C. Bernstein dropped their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $124.64.

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.