Perseverance Asset Management International Buys 628,857 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Perseverance Asset Management International boosted its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 47.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,962,092 shares of the company’s stock after acquiring an additional 628,857 shares during the period. PDD accounts for 32.6% of Perseverance Asset Management International’s portfolio, making the stock its 2nd largest position. Perseverance Asset Management International’s holdings in PDD were worth $222,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its position in PDD by 0.7% in the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after purchasing an additional 102 shares during the last quarter. West Family Investments Inc. grew its position in PDD by 2.8% in the third quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock worth $532,000 after acquiring an additional 110 shares in the last quarter. Range Financial Group LLC grew its position in PDD by 3.8% in the fourth quarter. Range Financial Group LLC now owns 3,620 shares of the company’s stock worth $410,000 after acquiring an additional 131 shares in the last quarter. Savant Capital LLC grew its position in PDD by 5.2% in the third quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock worth $407,000 after acquiring an additional 151 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in PDD by 4.3% in the fourth quarter. Fifth Third Bancorp now owns 3,649 shares of the company’s stock worth $414,000 after acquiring an additional 151 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Down 0.6%

Shares of NASDAQ:PDD opened at $81.30 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $78.87 and a twelve month high of $139.41. The business has a 50 day moving average price of $95.73 and a 200 day moving average price of $103.55. The company has a market cap of $115.72 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $1.57 earnings per share. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

Wall Street Analysts Forecast Growth

PDD has been the subject of several recent research reports. Citigroup decreased their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Morgan Stanley set a $129.00 price target on PDD in a research note on Wednesday, May 27th. Benchmark decreased their price target on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Finally, Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Friday, April 17th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.33.

PDD Company 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.