NEOS Investment Management LLC Has $30.84 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

NEOS Investment Management LLC raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.7% during the second quarter, HoldingsChannel.com reports. The firm owned 404,232 shares of the company’s stock after buying an additional 38,930 shares during the quarter. NEOS Investment Management LLC’s holdings in PDD were worth $30,835,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in PDD in the fourth quarter worth approximately $1,065,446,000. H&H International Investment LLC boosted its stake in shares of PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after acquiring an additional 8,211,600 shares in the last quarter. Himalaya Capital Management LLC bought a new stake in shares of PDD during the 2nd quarter worth about $482,273,000. Dodge & Cox acquired a new position in shares of PDD during the 4th quarter valued at about $503,429,000. Finally, Orbis Allan Gray Ltd increased its holdings in shares of PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after acquiring an additional 3,250,416 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 0.7%

Shares of NASDAQ:PDD opened at $82.21 on Friday. The company has a market cap of $117.02 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 0.62 and a beta of -0.01. The business has a 50 day moving average price of $85.72 and a 200 day moving average price of $92.32. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The company had revenue of $16.54 billion during the quarter. Analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PDD shares. BNP Paribas Exane began coverage on PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 target price for the company. Sanford C. Bernstein dropped 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. Benchmark reduced their price objective on shares of PDD from $127.00 to $114.00 and set a “buy” rating for the company in a research note on Tuesday, August 25th. Daiwa Securities Group reaffirmed a “hold” rating and set a $80.00 price objective on shares of PDD in a report on Tuesday, June 23rd. Finally, Bank of America reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $117.17.

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.