Virtu Financial LLC Buys New Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Virtu Financial LLC purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,338 shares of the company’s stock, valued at approximately $2,079,000.

A number of other institutional investors have also recently added to or reduced their stakes in PDD. Kovitz Investment Group Partners LLC acquired a new stake in PDD during the fourth quarter worth about $1,003,000. Compound Planning Inc. raised its holdings in shares of PDD by 9.4% in the 4th quarter. Compound Planning Inc. now owns 9,119 shares of the company’s stock worth $1,034,000 after purchasing an additional 783 shares during the period. Invesco Ltd. lifted its stake in shares of PDD by 16.7% in the 4th quarter. Invesco Ltd. now owns 6,159,608 shares of the company’s stock valued at $698,438,000 after purchasing an additional 881,582 shares in the last quarter. Vident Advisory LLC lifted its stake in shares of PDD by 172.3% in the 4th quarter. Vident Advisory LLC now owns 57,280 shares of the company’s stock valued at $6,495,000 after purchasing an additional 36,243 shares in the last quarter. Finally, Wahed Invest LLC grew its holdings in shares of PDD by 6.9% during the 4th quarter. Wahed Invest LLC now owns 14,764 shares of the company’s stock worth $1,674,000 after purchasing an additional 952 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PDD. Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. BNP Paribas Exane assumed coverage on shares of PDD in a research report on Monday. They set an “underperform” rating and a $89.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. 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 report on Friday, April 17th. Finally, Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PDD currently has an average rating of “Hold” and an average target price of $128.08.

PDD Price Performance

Shares of NASDAQ PDD opened at $79.56 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.51 and a 1-year high of $139.41. The business has a 50-day moving average of $93.29 and a 200-day moving average of $102.20. The company has a market capitalization of $113.25 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.63 and a beta of -0.02.

PDD (NASDAQ:PDD) last posted 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). The company had revenue of $15.41 billion during 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%. PDD’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.57 EPS. Research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

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.