PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 33.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,160 shares of the company’s stock after buying an additional 17,451 shares during the quarter. Quantinno Capital Management LP’s holdings in PDD were worth $7,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Binnacle Investments Inc lifted its holdings 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 during the last quarter. Wexford Capital LP bought a new stake in shares of PDD in the 3rd quarter valued at approximately $44,000. Smartleaf Asset Management LLC increased its holdings in shares of PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after acquiring an additional 263 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PDD during the 4th quarter valued at approximately $44,000. Finally, Larson Financial Group LLC raised its position in shares of PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 353 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PDD shares. Daiwa Securities Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of PDD in a report on Tuesday, June 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Citigroup decreased their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, BNP Paribas Exane started coverage on shares of PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PDD currently has an average rating of “Hold” and a consensus price target of $124.64.

PDD Price Performance

NASDAQ:PDD opened at $90.94 on Thursday. The firm has a market capitalization of $129.44 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.74 and a beta of 0.02. The business has a 50 day simple moving average of $83.35 and a 200 day simple moving average of $94.92. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41.

PDD (NASDAQ:PDD) last issued its earnings results 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 return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same period in the prior year, the business earned $1.57 earnings per share. PDD’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

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.