Aspex Management HK Ltd Lowers Stake in PDD Holdings Inc. Sponsored ADR $PDD

Aspex Management HK Ltd decreased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,109,525 shares of the company’s stock after selling 62,808 shares during the quarter. PDD makes up 7.1% of Aspex Management HK Ltd’s portfolio, making the stock its 5th biggest holding. Aspex Management HK Ltd’s holdings in PDD were worth $352,589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after buying an additional 425,908 shares in the last quarter. Norges Bank purchased a new stake in PDD in the fourth quarter worth about $1,065,446,000. Geode Capital Management LLC increased its position in PDD by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after buying an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. increased its position in PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Finally, Krane Funds Advisors LLC increased its position in 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 buying an additional 258,888 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Up 0.3%

NASDAQ PDD opened at $81.56 on Friday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $78.87 and a 12 month high of $139.41. The stock has a market cap of $116.09 billion, a PE ratio of 8.81, a P/E/G ratio of 0.85 and a beta of -0.02. The stock’s 50 day moving average is $95.33 and its 200 day moving average is $103.40.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PDD has been the subject of a number of analyst reports. Sanford C. Bernstein reduced their price target on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research report on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Citigroup reduced their price target on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. 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 report 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.33.

More PDD News

Here are the key news stories impacting PDD this week:

• Negative Sentiment: Analysts have turned more cautious on PDD, with one report saying the stock’s modeled fair value was cut from US$148.52 to US$119.85, reflecting worries about heavier investment, softer monetization, and slower order growth. PDD Holdings (PDD) Stock Fair Value Falls After Analysts Cut Targets On Q1 Concerns
• Negative Sentiment: Multiple law firms are continuing securities fraud investigations into PDD Holdings, keeping legal and headline risk elevated for shareholders. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Negative Sentiment: Another legal notice from Frank R. Cruz’s law firm said it is still investigating PDD, adding to concerns about possible federal securities-law violations. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Neutral Sentiment: PDD is drawing unusual investor attention, with Zacks noting heavy web searches and option-market activity, which can signal rising speculation but does not by itself confirm a fundamental change. Investors Heavily Search PDD Holdings Inc. Sponsored ADR (PDD): Here is What You Need to Know
• Neutral Sentiment: Options-trading activity has also picked up around PDD, suggesting traders are positioning for a larger move, but the direction remains unclear. Do Options Traders Know Something About PDD Holdings Stock We Don’t?

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.