Y Intercept Hong Kong Ltd Makes New Investment in PDD Holdings Inc. Sponsored ADR $PDD

Y Intercept Hong Kong Ltd purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,419 shares of the company’s stock, valued at approximately $4,947,000.

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

PDD Price Performance

PDD stock opened at $82.39 on Monday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The company has a market capitalization of $117.27 billion and a P/E ratio of 8.90. The stock’s 50 day moving average is $88.55 and its 200 day moving average is $99.45.

PDD (NASDAQ:PDD) last issued 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 company had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. PDD’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 earnings per share. As a group, equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PDD. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Friday, April 17th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Benchmark decreased their price target 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, Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PDD has a consensus rating of “Hold” and an average price target of $124.64.

PDD 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.