Teachers Retirement System of The State of Kentucky Raises Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Teachers Retirement System of The State of Kentucky boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 220,640 shares of the company’s stock after acquiring an additional 9,980 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PDD were worth $22,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares in the last quarter. Binnacle Investments Inc lifted its stake in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after buying an additional 263 shares during the last quarter. Wexford Capital LP acquired a new stake in PDD in the 3rd quarter worth about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in PDD during the 4th quarter worth approximately $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ:PDD opened at $85.13 on Monday. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The stock has a market cap of $121.17 billion and a PE ratio of 9.19. The stock has a 50 day moving average price of $87.21 and a 200 day moving average price of $98.61.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.57 EPS. As a group, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research analyst reports. Citigroup reduced their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Benchmark lowered their price target on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 price target on PDD in a research report on Wednesday, May 27th. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, BNP Paribas Exane began coverage on PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.