OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.53 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 33.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 31,107 shares of the company’s stock after selling 15,694 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PDD were worth $3,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Binnacle Investments Inc raised its stake in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC raised its stake in shares of PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the period. Wexford Capital LP acquired a new stake in shares of PDD in the 3rd quarter valued at about $44,000. Smartleaf Asset Management LLC raised its stake in shares of PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PDD in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PDD. Citigroup dropped their price target on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Sanford C. Bernstein dropped their price target 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 on the stock in a research note on Friday, April 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Finally, Benchmark dropped their target price on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Seven investment 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $131.33.

PDD Stock Performance

Shares of NASDAQ PDD opened at $83.55 on Tuesday. The stock has a 50 day moving average price of $94.98 and a 200 day moving average price of $103.11. PDD Holdings Inc. Sponsored ADR has a 52 week low of $78.87 and a 52 week high of $139.41. The stock has a market capitalization of $118.93 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 0.85 and a beta of -0.01.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 EPS 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 company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period last year, the company posted $1.57 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

PDD 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.