PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 94.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,301,820 shares of the company’s stock after acquiring an additional 3,063,694 shares during the quarter. PDD makes up approximately 0.7% of SG Americas Securities LLC’s investment portfolio, making the stock its 16th largest position. SG Americas Securities LLC’s holdings in PDD were worth $643,920,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. MY.Alpha Management HK Advisors Ltd purchased a new position in shares of PDD during the 4th quarter valued at approximately $16,471,000. Sankala Group LLC purchased a new stake in PDD during the fourth quarter worth $131,000. Pacer Advisors Inc. grew its position in PDD by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 48,488 shares of the company’s stock valued at $5,498,000 after buying an additional 1,964 shares during the period. Virtu Financial LLC acquired a new stake in PDD during the fourth quarter valued at $2,079,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in PDD in the fourth quarter valued at $1,003,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of NASDAQ PDD opened at $79.56 on Monday. The firm has a market cap of $113.25 billion, a PE ratio of 8.59, a PEG ratio of 0.63 and a beta of -0.01. The firm has a fifty day moving average of $93.29 and a 200 day moving average of $102.09. PDD Holdings Inc. Sponsored ADR has a one year low of $78.51 and a one year high of $139.41.

PDD (NASDAQ:PDD) last posted its quarterly earnings data 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). The company 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 business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.57 earnings per share. On average, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PDD. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Friday, April 17th. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Sanford C. Bernstein reduced their price target on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, May 27th. Finally, BNP Paribas Exane initiated coverage on PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $128.08.

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.