PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,029 shares of the company’s stock after purchasing an additional 34,750 shares during the period. Handelsbanken Fonder AB’s holdings in PDD were worth $31,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PDD. Binnacle Investments Inc increased its stake in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Grove Bank & Trust purchased a new position in PDD in the 2nd quarter valued at about $38,000. Smartleaf Asset Management LLC lifted its stake in PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after buying an additional 263 shares in the last quarter. Wexford Capital LP purchased a new position in PDD in the 3rd quarter valued at about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PDD in the 4th quarter worth about $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Down 2.7%

PDD opened at $90.50 on Wednesday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The firm has a market capitalization of $128.82 billion, a PE ratio of 9.77, a PEG ratio of 0.76 and a beta of 0.01. The firm’s 50-day moving average price is $83.81 and its 200 day moving average price is $94.51.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the previous year, the company posted $1.57 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PDD shares. Morgan Stanley set a $129.00 price objective on PDD in a research note on Wednesday, May 27th. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Benchmark dropped their price target on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Finally, Zacks Research downgraded PDD from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $124.64.

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.