PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Taikang Asset Management Hong Kong Co Ltd

Taikang Asset Management Hong Kong Co Ltd increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 95,665 shares of the company’s stock after purchasing an additional 6,359 shares during the period. PDD accounts for 1.1% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its 23rd biggest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in PDD were worth $10,847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake in PDD by 11.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock valued at $27,522,000 after acquiring an additional 25,369 shares during the period. Step Capital Management Pte. Ltd. acquired a new stake in shares of PDD during the 4th quarter worth approximately $8,504,000. LBP AM SA bought a new stake in shares of PDD in the 4th quarter worth approximately $6,690,000. Triata Capital Ltd boosted its position in PDD by 55.7% during the 3rd quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock valued at $336,304,000 after purchasing an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd acquired a new position in PDD during the 3rd quarter valued at approximately $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PDD shares. BNP Paribas Exane assumed coverage on PDD in a research report on Monday. They issued an “underperform” rating and a $89.00 target price on the stock. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Finally, Citigroup reduced their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and an average target price of $128.08.

PDD Stock Performance

Shares of PDD stock opened at $81.59 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $78.87 and a 1 year high of $139.41. The firm has a market capitalization of $116.13 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.87 and a beta of -0.01. The stock has a fifty day moving average of $94.60 and a two-hundred day moving average of $102.87.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period last year, the business posted $1.57 earnings per share. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

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.