Myriad Asset Management Advisors LLC Invests $3.98 Million in PDD Holdings Inc. Sponsored ADR $PDD

Myriad Asset Management Advisors LLC acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,106 shares of the company’s stock, valued at approximately $3,981,000. PDD makes up about 1.2% of Myriad Asset Management Advisors LLC’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in PDD by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after buying an additional 425,908 shares during the last quarter. Norges Bank bought a new stake in PDD in the 4th quarter worth approximately $1,065,446,000. Geode Capital Management LLC lifted its position in PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after buying an additional 359,921 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares during the last quarter. Finally, Krane Funds Advisors LLC lifted its position in PDD by 4.2% in the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock worth $725,465,000 after buying an additional 258,888 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $81.82 on Thursday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $81.00 and a fifty-two week high of $139.41. The stock has a 50 day moving average price of $96.15 and a two-hundred day moving average price of $103.78. The company has a market capitalization of $116.46 billion, a P/E ratio of 8.84, a PEG ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last announced its quarterly earnings data 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). PDD had a net margin of 21.86% and a return on equity of 24.32%. The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter in the previous year, the firm posted $1.57 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of recent research reports. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. Sanford C. Bernstein dropped their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Benchmark dropped their target price on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Finally, Citigroup dropped their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.33.

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.