Orland Properties Ltd Sells 25,000 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Orland Properties Ltd lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 18.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,835 shares of the company’s stock after selling 25,000 shares during the period. PDD accounts for about 4.4% of Orland Properties Ltd’s portfolio, making the stock its 5th biggest position. Orland Properties Ltd’s holdings in PDD were worth $11,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of PDD during the 4th quarter worth $1,065,446,000. Assenagon Asset Management S.A. raised its stake in PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after purchasing an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in PDD in the second quarter valued at about $482,273,000. Dodge & Cox bought a new stake in PDD during the fourth quarter worth about $503,429,000. Finally, Orbis Allan Gray Ltd lifted its position in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after purchasing an additional 3,250,416 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the topic of several recent analyst reports. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Daiwa Securities Group reissued a “hold” rating and issued a $80.00 price objective on shares of PDD in a research note on Tuesday, June 23rd. Finally, 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 research report on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $124.64.

PDD Trading Down 2.9%

Shares of NASDAQ PDD opened at $84.14 on Friday. The company has a market cap of $119.76 billion and a price-to-earnings ratio of 9.09. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The stock has a 50-day moving average price of $85.72 and a two-hundred day moving average price of $97.72.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS 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 period in the previous year, the company earned $1.57 EPS. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share 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.