PDD Holdings Inc. Sponsored ADR $PDD Position Increased by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 5.2% in the first quarter, Holdings Channel.com reports. The firm owned 4,926,061 shares of the company’s stock after purchasing an additional 243,167 shares during the period. PDD comprises 1.7% of Temasek Holdings Private Ltd’s holdings, making the stock its 13th largest holding. Temasek Holdings Private Ltd’s holdings in PDD were worth $503,345,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of PDD by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after purchasing an additional 425,908 shares in the last quarter. Norges Bank acquired a new position in PDD in the fourth quarter worth approximately $1,065,446,000. Geode Capital Management LLC raised its position in PDD by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after acquiring an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. lifted 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 acquiring an additional 5,070,827 shares during the last quarter. Finally, Krane Funds Advisors LLC lifted its stake in PDD by 4.2% in the fourth quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock valued at $725,465,000 after acquiring an additional 258,888 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Down 1.4%

Shares of PDD stock opened at $84.83 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The firm has a market cap of $120.75 billion and a PE ratio of 9.16. The stock has a 50 day moving average of $85.25 and a 200-day moving average of $97.20.

PDD (NASDAQ:PDD) last posted 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). The business had revenue of $15.41 billion during 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%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.57 earnings per share. As a group, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PDD has been the topic of several analyst reports. Citigroup dropped their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley set a $129.00 target price on shares of PDD in a research report on Wednesday, May 27th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday, April 17th. Sanford C. Bernstein reduced their price target 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. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PDD presently has an average rating of “Hold” and an average price target of $124.64.

About PDD

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.