RBF Capital LLC Buys New Position in PDD Holdings Inc. Sponsored ADR $PDD

RBF Capital LLC purchased a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,000 shares of the company’s stock, valued at approximately $2,044,000.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares in the last quarter. Binnacle Investments Inc boosted its stake in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares in the last quarter. Wexford Capital LP purchased a new position in shares of PDD during the third quarter valued at about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD during the fourth quarter valued at about $44,000. Institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

PDD has been the subject of several research analyst reports. Zacks Research lowered shares of PDD from a “hold” rating to a “strong sell” rating in a report on Monday. 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 objective on the stock. Morgan Stanley set a $129.00 target price on PDD in a report on Wednesday, May 27th. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Citigroup lowered their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $124.64.

PDD Trading Up 3.0%

NASDAQ PDD opened at $88.32 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The stock has a market cap of $125.71 billion and a P/E ratio of 9.54. The stock’s fifty day moving average price is $83.79 and its 200-day moving average price is $95.76.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (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 analysts’ expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.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 firm earned $1.57 EPS. As a group, analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

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.