Prudential PLC Has $198.56 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

Prudential PLC lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 12.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,751,095 shares of the company’s stock after acquiring an additional 194,192 shares during the quarter. PDD makes up approximately 1.6% of Prudential PLC’s portfolio, making the stock its 11th biggest position. Prudential PLC owned 0.13% of PDD worth $198,557,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of PDD by 11.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock valued at $27,522,000 after acquiring an additional 25,369 shares in the last quarter. Step Capital Management Pte. Ltd. acquired a new stake in shares of PDD during the 4th quarter valued at $8,504,000. LBP AM SA acquired a new position in PDD during the 4th quarter worth about $6,690,000. Triata Capital Ltd lifted its holdings in PDD by 55.7% during the 3rd quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock worth $336,304,000 after buying an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd acquired a new position in PDD during the 3rd quarter worth about $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 0.6%

Shares of PDD opened at $85.88 on Friday. The stock’s 50-day moving average price is $97.55 and its two-hundred day moving average price is $104.82. PDD Holdings Inc. Sponsored ADR has a 12 month low of $81.56 and a 12 month high of $139.41. The company has a market capitalization of $122.24 billion, a PE ratio of 9.27, a PEG ratio of 0.80 and a beta of -0.02.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.34 earnings per share for the quarter. PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm had revenue of $15.41 million during the quarter. Equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PDD. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a report on Thursday, May 28th. Nomura downgraded 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 report on Wednesday, May 27th. Sanford C. Bernstein cut their target price on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, May 27th. Finally, Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.33.

PDD Company 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.