Clough Capital Partners L P Sells 9,700 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Clough Capital Partners L P trimmed its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 53.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,450 shares of the company’s stock after selling 9,700 shares during the quarter. Clough Capital Partners L P’s holdings in PDD were worth $958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Advisory Services Network LLC raised its holdings in shares of PDD by 0.7% in the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock valued at $2,043,000 after purchasing an additional 102 shares during the period. West Family Investments Inc. raised its holdings in shares of PDD by 2.8% in the 3rd quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after purchasing an additional 110 shares during the period. Range Financial Group LLC raised its holdings in shares of PDD by 3.8% in the 4th quarter. Range Financial Group LLC now owns 3,620 shares of the company’s stock valued at $410,000 after purchasing an additional 131 shares during the period. Focus Partners Wealth raised its holdings in shares of PDD by 1.0% in the 4th quarter. Focus Partners Wealth now owns 13,886 shares of the company’s stock valued at $1,512,000 after purchasing an additional 142 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of PDD by 4.3% in the 4th quarter. Fifth Third Bancorp now owns 3,649 shares of the company’s stock valued at $414,000 after purchasing an additional 151 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Trading Down 2.1%

PDD opened at $79.86 on Thursday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.87 and a 1-year high of $139.41. The company has a market cap of $113.67 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 0.65 and a beta of -0.02. The company has a fifty day moving average price of $94.17 and a two-hundred day moving average price of $102.62.

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 company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. During the same period last year, the firm posted $1.57 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PDD has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday, April 17th. Citigroup lowered their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Sanford C. Bernstein reduced 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. Finally, BNP Paribas Exane began coverage on shares of PDD in a research report on Monday. They set an “underperform” rating and a $89.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.