11,038 Shares in PDD Holdings Inc. Sponsored ADR $PDD Bought by Fosun International Ltd

Fosun International Ltd bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the fourth quarter, HoldingsChannel reports. The fund bought 11,038 shares of the company’s stock, valued at approximately $1,252,000. PDD accounts for 0.3% of Fosun International Ltd’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors also recently bought and sold shares of PDD. Focus Partners Wealth raised its holdings in PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after purchasing an additional 7,744 shares during the period. Intech Investment Management LLC raised its holdings in PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares during the period. EverSource Wealth Advisors LLC increased its stake in PDD by 62.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock worth $174,000 after buying an additional 637 shares in the last quarter. Cerity Partners LLC increased its stake in PDD by 2.0% in the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after buying an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in PDD by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after buying an additional 369 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Benchmark cut their price target on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 price target on PDD in a research note on Wednesday, May 27th. Finally, Citigroup cut their price target 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 investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.33.

PDD Stock Up 0.6%

Shares of PDD stock opened at $85.88 on Friday. The firm has a market cap of $122.24 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 0.80 and a beta of -0.02. The business has a 50-day moving average price of $97.55 and a 200-day moving average price of $104.82. PDD Holdings Inc. Sponsored ADR has a twelve month low of $81.56 and a twelve month high of $139.41.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.34 earnings per share for the quarter. The firm had revenue of $15.41 million during the quarter. PDD had a return on equity of 24.32% and a net margin of 21.86%. On average, equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.98 EPS 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.