PDD Holdings Inc. Sponsored ADR $PDD Stock Sold by Capstone Capital Management Ltd

Capstone Capital Management Ltd lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 72.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,571 shares of the company’s stock after selling 37,628 shares during the quarter. Capstone Capital Management Ltd’s holdings in PDD were worth $1,136,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Grove Bank & Trust bought a new stake in shares of PDD in the 2nd quarter worth about $38,000. Integrated Wealth Concepts LLC acquired a new position in shares of PDD during the second quarter valued at $52,000. Ramsey Quantitative Systems acquired a new position in shares of PDD during the second quarter worth approximately $53,000. GK Wealth Management LLC acquired a new position in PDD during the 3rd quarter valued at about $55,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of PDD by 166.7% in the second quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $122,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Daiwa Securities Group reiterated a “hold” rating and issued a $80.00 price target on shares of PDD in a research report on Tuesday, June 23rd. Weiss Ratings cut PDD from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. JPMorgan Chase & Co. dropped their price objective on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, September 10th. Zacks Research raised shares of PDD from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $105.00 price objective on shares of PDD in a research report on Monday, August 24th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.31.

PDD Stock Performance

Shares of PDD opened at $81.63 on Wednesday. The company has a market cap of $116.19 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.64 and a beta of -0.05. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.41. The stock has a fifty day moving average price of $81.60 and a two-hundred day moving average price of $87.12.

PDD (NASDAQ:PDD) last announced its earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. The company had revenue of $16.54 billion for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. As a group, research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current fiscal year.

PDD Company Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.