PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. cut its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 11.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 78,445 shares of the company’s stock after selling 10,064 shares during the quarter. PDD makes up approximately 2.1% of Platinum Investment Management Ltd.’s portfolio, making the stock its 9th biggest holding. Platinum Investment Management Ltd.’s holdings in PDD were worth $8,895,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PDD. GAMMA Investing LLC increased its holdings in PDD by 595.0% in the fourth 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. Binnacle Investments Inc increased its holdings 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 buying an additional 200 shares in the last quarter. Wexford Capital LP purchased a new position in PDD in the third quarter valued at about $44,000. Assetmark Inc. increased its holdings in PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 353 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PDD. Barclays cut shares of PDD from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Citigroup dropped their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Benchmark dropped their price objective on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Finally, Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.33.

PDD Price Performance

Shares of PDD opened at $81.56 on Friday. The firm has a 50 day simple moving average of $95.33 and a 200-day simple moving average of $103.40. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.87 and a 1-year high of $139.41. The stock has a market cap of $116.09 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The business had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business earned $1.57 earnings per share. On average, equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

Key Headlines Impacting PDD

Here are the key news stories impacting PDD this week:

• Negative Sentiment: Analysts have turned more cautious on PDD, with one report saying the stock’s modeled fair value was cut from US$148.52 to US$119.85, reflecting worries about heavier investment, softer monetization, and slower order growth. PDD Holdings (PDD) Stock Fair Value Falls After Analysts Cut Targets On Q1 Concerns
• Negative Sentiment: Multiple law firms are continuing securities fraud investigations into PDD Holdings, keeping legal and headline risk elevated for shareholders. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Negative Sentiment: Another legal notice from Frank R. Cruz’s law firm said it is still investigating PDD, adding to concerns about possible federal securities-law violations. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Neutral Sentiment: PDD is drawing unusual investor attention, with Zacks noting heavy web searches and option-market activity, which can signal rising speculation but does not by itself confirm a fundamental change. Investors Heavily Search PDD Holdings Inc. Sponsored ADR (PDD): Here is What You Need to Know
• Neutral Sentiment: Options-trading activity has also picked up around PDD, suggesting traders are positioning for a larger move, but the direction remains unclear. Do Options Traders Know Something About PDD Holdings Stock We Don’t?

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.