PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 220,640 shares of the company’s stock after buying an additional 9,980 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PDD were worth $22,545,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PDD. Vanguard Group Inc. grew its position in PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after acquiring an additional 425,908 shares during the period. Norges Bank purchased a new stake in PDD in the fourth quarter valued at $1,065,446,000. Geode Capital Management LLC raised its position in PDD by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after purchasing an additional 359,921 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after purchasing an additional 5,070,827 shares during the last quarter. Finally, Krane Funds Advisors LLC lifted its stake in shares of PDD by 4.2% in the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock valued at $725,465,000 after purchasing an additional 258,888 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of NASDAQ:PDD opened at $85.13 on Monday. The firm’s 50-day moving average is $87.21 and its two-hundred day moving average is $98.61. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.41. The firm has a market capitalization of $121.17 billion and a PE ratio of 9.19.

PDD (NASDAQ:PDD) last announced its 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). The business had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.PDD’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 earnings per share. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PDD. Sanford C. Bernstein cut their price objective on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. BNP Paribas Exane initiated coverage on shares of PDD in a research report on Monday, June 15th. They issued an “underperform” rating and a $89.00 target price on the stock. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Finally, Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $124.64.

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.