Twin Peaks Capital Ltd Buys 65,000 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Twin Peaks Capital Ltd bought a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the third quarter, HoldingsChannel reports. The institutional investor bought 65,000 shares of the company’s stock, valued at approximately $5,066,000. PDD comprises about 2.9% of Twin Peaks Capital Ltd’s holdings, making the stock its 5th largest holding.

Several other large investors have also made changes to their positions in the company. H&H International Investment LLC boosted its holdings in PDD by 71.2% in the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock valued at $2,017,881,000 after acquiring an additional 8,211,600 shares during the last quarter. Temasek Holdings Private Ltd grew its position in shares of PDD by 5.2% during the 1st quarter. Temasek Holdings Private Ltd now owns 4,926,061 shares of the company’s stock worth $503,345,000 after buying an additional 243,167 shares during the period. Dimensional Fund Advisors LP grew its position in shares of PDD by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,737,229 shares of the company’s stock worth $381,496,000 after buying an additional 252,537 shares during the period. Perseverance Asset Management International raised its stake in shares of PDD by 10.2% during the first quarter. Perseverance Asset Management International now owns 2,161,676 shares of the company’s stock worth $220,880,000 after buying an additional 199,584 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of PDD during the third quarter worth approximately $202,907,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 1.1%

NASDAQ PDD traded down $0.92 during trading on Friday, reaching $83.03. 6,501,645 shares of the stock traded hands, compared to its average volume of 5,289,521. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.12. The firm has a market cap of $118.18 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 0.65 and a beta of -0.03. The stock’s 50-day moving average price is $79.82 and its 200 day moving average price is $90.54.

PDD (NASDAQ:PDD) last posted its earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The company had revenue of $16.54 billion for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. Analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of PDD from a “hold” rating to a “buy” rating in a research note on Thursday, October 29th. Zacks Research upgraded shares of PDD from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Weiss Ratings raised PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, October 27th. Bank of America restated a “neutral” rating on shares of PDD in a research report on Wednesday, August 26th. Finally, Benchmark decreased their price objective on PDD from $127.00 to $114.00 and set a “buy” rating for the company in a research note on Tuesday, August 25th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PDD presently has an average rating of “Hold” and a consensus price target of $110.31.

PDD Company Profile

PDD Holdings Inc operates e-commerce platforms that connect consumers with merchants and other suppliers. Its businesses include Pinduoduo, a marketplace focused on China, and Temu, an international online marketplace.

Pinduoduo uses interactive shopping features, including group buying, and offers products across categories such as groceries, apparel, home goods and electronics. The platform has also emphasized agricultural products, connecting farmers with consumers and other buyers.

Temu serves customers in multiple markets outside China and offers a wide range of merchandise from suppliers and brands.