PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft cut its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 97.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,670 shares of the company’s stock after selling 198,403 shares during the period. Baader Bank Aktiengesellschaft’s holdings in PDD were worth $458,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 425,908 shares in the last quarter. Norges Bank bought a new position in PDD during the 4th quarter valued at $1,065,446,000. Geode Capital Management LLC boosted its stake in PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after purchasing an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after purchasing an additional 5,070,827 shares during the period. Finally, Krane Funds Advisors LLC increased its position in shares of PDD by 4.2% during the 4th 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 during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 1.4%

PDD opened at $84.83 on Wednesday. The firm has a market cap of $120.75 billion and a PE ratio of 9.16. The business has a fifty day simple moving average of $85.25 and a 200-day simple moving average of $97.20. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.41.

PDD (NASDAQ:PDD) last announced its 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 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 firm earned $1.57 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PDD. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Sanford C. Bernstein decreased their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Citigroup lowered their target price on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Finally, BNP Paribas Exane initiated coverage on shares of PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.