PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 94.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,301,820 shares of the company’s stock after buying an additional 3,063,694 shares during the quarter. PDD accounts for about 0.7% of SG Americas Securities LLC’s portfolio, making the stock its 16th largest position. SG Americas Securities LLC owned approximately 0.45% of PDD worth $643,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PDD. Norges Bank purchased a new stake in shares of PDD during the fourth quarter worth about $1,065,446,000. Assenagon Asset Management S.A. boosted its stake 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 purchasing an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC purchased a new stake in PDD during the 2nd quarter worth approximately $482,273,000. Dodge & Cox acquired a new position in PDD during the 4th quarter valued at approximately $503,429,000. Finally, Orbis Allan Gray Ltd raised its holdings in shares of PDD by 135.6% in the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after buying an additional 3,250,416 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

NASDAQ:PDD opened at $79.56 on Monday. The company’s fifty day moving average price is $93.29 and its 200-day moving average price is $102.09. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.51 and a 1-year high of $139.41. The firm has a market capitalization of $113.25 billion, a P/E ratio of 8.59, a PEG ratio of 0.63 and a beta of -0.01.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 earnings per share. Equities analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PDD. Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. BNP Paribas Exane began coverage on PDD in a research note on Monday, June 15th. They issued an “underperform” rating and a $89.00 price objective for the company. Finally, Citigroup decreased their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PDD currently has an average rating of “Hold” and a consensus price target of $128.08.

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.