PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 33.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,107 shares of the company’s stock after selling 15,694 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PDD were worth $3,527,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PDD. Exchange Traded Concepts LLC boosted its stake in PDD by 11.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock valued at $27,522,000 after purchasing an additional 25,369 shares in the last quarter. Step Capital Management Pte. Ltd. bought a new stake in shares of PDD in the 4th quarter worth $8,504,000. LBP AM SA bought a new stake in shares of PDD in the 4th quarter worth $6,690,000. Triata Capital Ltd lifted its holdings in shares of PDD by 55.7% in the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock valued at $336,304,000 after buying an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd acquired a new stake in shares of PDD in the third quarter valued at $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $79.56 on Friday. The stock has a market cap of $113.25 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 0.63 and a beta of -0.02. The business has a fifty day simple moving average of $93.29 and a 200-day simple moving average of $102.20. PDD Holdings Inc. Sponsored ADR has a 12 month low of $78.51 and a 12 month high of $139.41.

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 net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of research analyst reports. Morgan Stanley set a $129.00 target price on PDD in a report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Barclays cut shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. Finally, Sanford C. Bernstein decreased their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PDD has a consensus rating of “Hold” and an average price target of $128.08.

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.