FACT Capital LP Buys 8,279 Shares of PDD Holdings Inc. Sponsored ADR $PDD

FACT Capital LP boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 11.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,435 shares of the company’s stock after acquiring an additional 8,279 shares during the quarter. PDD accounts for 5.5% of FACT Capital LP’s holdings, making the stock its 9th largest position. FACT Capital LP’s holdings in PDD were worth $8,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of PDD during the 4th quarter worth approximately $1,065,446,000. Himalaya Capital Management LLC purchased a new stake in PDD during the second quarter worth $482,273,000. Dodge & Cox acquired a new stake in PDD during the fourth quarter valued at $503,429,000. Orbis Allan Gray Ltd grew its position in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after buying an additional 3,250,416 shares during the period. Finally, SG Americas Securities LLC increased its holdings in PDD by 94.6% in the first quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company’s stock valued at $643,920,000 after buying an additional 3,063,694 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Up 2.6%

PDD stock opened at $84.85 on Tuesday. The firm has a 50-day moving average of $84.22 and a two-hundred day moving average of $96.24. The company has a market cap of $120.78 billion and a price-to-earnings ratio of 9.16. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The company had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. PDD’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 EPS. As a group, equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports 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. Sanford C. Bernstein lowered their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Citigroup cut their price objective on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Morgan Stanley set a $129.00 target price on PDD in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $124.64.

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.