Pacer Advisors Inc. Lowers Stake in PDD Holdings Inc. Sponsored ADR $PDD

Pacer Advisors Inc. reduced its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 53.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 22,554 shares of the company’s stock after selling 25,934 shares during the period. Pacer Advisors Inc.’s holdings in PDD were worth $2,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Binnacle Investments Inc increased its stake in 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 during the last quarter. Smartleaf Asset Management LLC lifted its stake 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 purchasing an additional 263 shares during the last quarter. Wexford Capital LP bought a new stake in PDD during the third quarter worth about $44,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD in the 4th quarter worth about $44,000. Finally, Larson Financial Group LLC boosted its holdings in shares of PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 353 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Up 1.0%

NASDAQ:PDD opened at $91.76 on Friday. The firm has a market capitalization of $130.61 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.74 and a beta of 0.02. The company has a fifty day moving average of $83.65 and a 200 day moving average of $94.79. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. BNP Paribas Exane began coverage on shares of PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 price target on the stock. Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Finally, Daiwa Securities Group reissued a “hold” rating and set a $80.00 price target on shares of PDD in a research note on Tuesday, June 23rd. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus target price of $124.64.

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.