PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,665 shares of the company’s stock after acquiring an additional 6,359 shares during the quarter. PDD accounts for 1.1% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its 23rd biggest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in PDD were worth $10,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDD. Focus Partners Wealth boosted its holdings in PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,744 shares during the last quarter. Intech Investment Management LLC boosted its holdings in PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after acquiring an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in PDD by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares during the last quarter. Cerity Partners LLC boosted its holdings in PDD by 2.0% in the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after acquiring an additional 382 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in PDD by 0.3% in the second quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock valued at $14,914,000 after acquiring an additional 369 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PDD shares. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Sanford C. Bernstein cut their price objective on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. BNP Paribas Exane started coverage on PDD in a research report on Monday. They issued an “underperform” rating and a $89.00 price objective on the stock. Morgan Stanley set a $129.00 price objective on PDD in a research report on Wednesday, May 27th. Finally, Citigroup cut their price objective on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $128.08.

PDD Price Performance

NASDAQ:PDD opened at $81.59 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $78.87 and a 12 month high of $139.41. The firm has a market capitalization of $116.13 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.87 and a beta of -0.01. The business’s 50-day moving average is $94.60 and its two-hundred day moving average is $102.87.

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