Dimensional Fund Advisors LP Buys 252,537 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Dimensional Fund Advisors LP increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,737,229 shares of the company’s stock after acquiring an additional 252,537 shares during the quarter. Dimensional Fund Advisors LP’s holdings in PDD were worth $381,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its holdings in PDD by 11.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after purchasing an additional 25,369 shares during the last quarter. LBP AM SA bought a new stake in shares of PDD in the 4th quarter valued at $6,690,000. Step Capital Management Pte. Ltd. bought a new stake in shares of PDD in the 4th quarter valued at $8,504,000. Geode Capital Management LLC increased its position in shares of PDD by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after buying an additional 359,921 shares during the period. Finally, Dymon Asia Capital Singapore PTE. LTD. increased its position in shares of PDD by 125.4% during the fourth quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company’s stock worth $7,361,000 after buying an additional 36,122 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PDD shares. Daiwa Securities Group reissued a “hold” rating and set a $80.00 target price on shares of PDD in a research note on Tuesday, June 23rd. Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, April 17th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $124.64.

PDD Stock Down 1.4%

NASDAQ:PDD opened at $84.83 on Wednesday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The company has a fifty day moving average of $85.25 and a 200-day moving average of $97.20. The firm has a market capitalization of $120.75 billion and a P/E ratio of 9.16.

PDD (NASDAQ:PDD) last issued its 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 for the quarter, compared to the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.57 earnings per share. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

PDD Company 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.