PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Lifted by California State Teachers Retirement System

California State Teachers Retirement System grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 17.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 362,290 shares of the company’s stock after purchasing an additional 53,081 shares during the period. California State Teachers Retirement System’s holdings in PDD were worth $37,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PDD. Binnacle Investments Inc lifted its holdings in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. Wexford Capital LP acquired a new position in PDD in the third quarter worth approximately $44,000. 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 valued at $43,000 after acquiring an additional 263 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PDD during the fourth quarter valued at approximately $44,000. Finally, Larson Financial Group LLC lifted its stake in PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 353 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. BNP Paribas Exane started coverage on shares of PDD in a research report on Monday, June 15th. They issued an “underperform” rating and a $89.00 target price for the company. Daiwa Securities Group restated a “hold” rating and set a $80.00 price target on shares of PDD in a report on Tuesday, June 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Zacks Research downgraded shares of PDD from a “hold” rating to a “strong sell” rating in a research report on Monday, July 27th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, PDD has an average rating of “Hold” and an average price target of $124.64.

PDD Trading Up 1.3%

NASDAQ:PDD opened at $88.56 on Friday. The firm has a market capitalization of $126.06 billion and a PE ratio of 9.56. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.41. The firm’s fifty day simple moving average is $83.46 and its 200 day simple moving average is $95.48.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the prior year, the firm earned $1.57 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal 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.