OMERS ADMINISTRATION Corp Purchases 33,600 Shares of PDD Holdings Inc. Sponsored ADR $PDD

OMERS ADMINISTRATION Corp increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 120.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,405 shares of the company’s stock after acquiring an additional 33,600 shares during the period. OMERS ADMINISTRATION Corp’s holdings in PDD were worth $6,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LBP AM SA bought a new position in PDD during the 4th quarter valued at about $6,690,000. Step Capital Management Pte. Ltd. bought a new position in PDD during the fourth quarter valued at approximately $8,504,000. Geode Capital Management LLC lifted its position in PDD by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after purchasing an additional 359,921 shares during the period. Dymon Asia Capital Singapore PTE. LTD. boosted its holdings in PDD by 125.4% in the fourth quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company’s stock worth $7,361,000 after purchasing an additional 36,122 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in PDD by 10.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,785,936 shares of the company’s stock worth $202,507,000 after purchasing an additional 173,068 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $82.66 on Monday. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The stock’s fifty day moving average is $84.42 and its 200 day moving average is $96.51. The stock has a market cap of $117.66 billion and a P/E ratio of 8.93.

PDD (NASDAQ:PDD) last released 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). PDD had a net margin of 21.86% and a return on equity of 24.32%. The company had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.92 billion. During the same period in the prior year, the firm posted $1.57 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley set a $129.00 price target on PDD in a research note on Wednesday, May 27th. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup dropped their target price on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Finally, Sanford C. Bernstein lowered their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $124.64.

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.