Union Bancaire Privee UBP SA Buys 22,531 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Union Bancaire Privee UBP SA grew its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 25.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,760 shares of the company’s stock after purchasing an additional 22,531 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in PDD were worth $11,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Binnacle Investments Inc raised its holdings in shares of 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 purchasing an additional 200 shares during the period. GAMMA Investing LLC lifted its position in shares of PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares during the last quarter. Wexford Capital LP bought a new position in shares of PDD during the 3rd quarter worth approximately $44,000. Smartleaf Asset Management LLC increased its holdings in shares of PDD by 230.7% during the 4th 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PDD during the 4th quarter valued at $44,000. 39.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PDD. Barclays cut 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 note on Thursday, May 28th. Citigroup cut their price objective 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. BNP Paribas Exane initiated coverage on PDD in a research note on Monday, June 15th. They set an “underperform” rating and a $89.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Finally, Morgan Stanley set a $129.00 target price on PDD in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Hold” and an average target price of $124.64.

PDD Stock Up 4.4%

PDD stock opened at $76.55 on Friday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41. The business has a 50-day simple moving average of $90.78 and a 200 day simple moving average of $100.74. The company has a market cap of $108.96 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 0.60 and a beta of -0.02.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.57 earnings per share. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

About PDD

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.