Healthcare of Ontario Pension Plan Trust Fund Has $164.44 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 126.4% in the first quarter, Holdings Channel reports. The institutional investor owned 1,609,370 shares of the company’s stock after buying an additional 898,639 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in PDD were worth $164,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after acquiring an additional 238 shares during the last quarter. Binnacle Investments Inc lifted its position in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of PDD by 230.7% during 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 position in shares of PDD during the 3rd quarter worth about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of PDD in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Citigroup reduced their price target on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Sanford C. Bernstein decreased their price target on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Finally, Benchmark dropped their price objective on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Seven research 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. According to MarketBeat, PDD currently has a consensus rating of “Hold” and an average target price of $124.64.

PDD Stock Performance

Shares of PDD stock opened at $82.66 on Friday. The company has a market capitalization of $117.66 billion and a price-to-earnings ratio of 8.93. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41. The company has a 50-day simple moving average of $84.42 and a 200 day simple moving average of $96.67.

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

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.