Public Employees Retirement System of Ohio Acquires Shares of 124,422 PDD Holdings Inc. Sponsored ADR $PDD

Public Employees Retirement System of Ohio acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 124,422 shares of the company’s stock, valued at approximately $9,491,000.

Other large investors have also made changes to their positions in the company. Binnacle Investments Inc grew its stake in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the period. Grove Bank & Trust acquired a new position in PDD during the second quarter worth $38,000. Smartleaf Asset Management LLC raised its position in PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after acquiring an additional 263 shares during the period. Wexford Capital LP purchased a new position in PDD during the third quarter valued at $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PDD in the fourth quarter valued at about $44,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PDD has been the subject of a number of research reports. Sanford C. Bernstein cut their target price on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Barclays cut PDD from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $105.00 price objective on shares of PDD in a research note on Monday, August 24th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and a consensus target price of $117.17.

PDD Stock Down 2.0%

Shares of NASDAQ PDD opened at $84.00 on Tuesday. The firm has a 50-day simple moving average of $85.18 and a 200-day simple moving average of $92.80. The stock has a market capitalization of $119.57 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 0.65 and a beta of 0.01. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The firm had revenue of $16.54 billion for the quarter. As a group, equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.5 EPS for the current year.

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.