Siren L.L.C. Has $8.52 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Siren L.L.C. boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 83,401 shares of the company’s stock after buying an additional 20,000 shares during the period. Siren L.L.C.’s holdings in PDD were worth $8,522,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in PDD by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after acquiring an additional 425,908 shares during the period. Norges Bank acquired a new position in shares of PDD in the 4th quarter valued at about $1,065,446,000. Geode Capital Management LLC increased its holdings in shares of PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after purchasing an additional 359,921 shares during the period. Krane Funds Advisors LLC lifted its position in shares of PDD by 4.2% in the fourth quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock worth $725,465,000 after purchasing an additional 258,888 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of PDD by 94.6% in the first quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company’s stock worth $643,920,000 after purchasing an additional 3,063,694 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Down 0.3%

PDD stock opened at $83.30 on Friday. The company has a market capitalization of $118.57 billion and a price-to-earnings ratio of 9.00. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The firm has a 50 day moving average of $84.68 and a two-hundred day moving average of $96.76.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate 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 return on equity of 24.32% and a net margin of 21.86%.The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 earnings per share. On average, research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on PDD. Daiwa Securities Group reaffirmed a “hold” rating and set a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Benchmark decreased their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. BNP Paribas Exane began coverage on shares of PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price target on the stock. Finally, Citigroup dropped their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PDD currently has an average rating of “Hold” and a consensus price target of $124.64.

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.