PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC decreased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 50.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,329 shares of the company’s stock after selling 31,954 shares during the period. Polen Capital Management LLC’s holdings in PDD were worth $3,552,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PDD. GAMMA Investing LLC lifted its holdings in shares of 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 during the period. Binnacle Investments Inc lifted its holdings in shares of 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 during the period. Wexford Capital LP acquired a new stake in shares of PDD in the third quarter valued at $44,000. Assetmark Inc. lifted its holdings in shares of 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 during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of 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 during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the subject of several research analyst reports. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $165.00 to $89.00 in a report on Thursday, May 28th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a report on Thursday, May 28th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a report on Friday, April 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Finally, Benchmark reduced their target price on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and an average target price of $131.33.

PDD Trading Down 0.6%

NASDAQ:PDD opened at $81.30 on Friday. The firm has a market capitalization of $115.72 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.85 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.87 and a 1-year high of $139.41. The business’s fifty day moving average price is $95.73 and its 200 day moving average price is $103.55.

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

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.