Public Employees Retirement System of Ohio Buys Shares of 124,422 PDD Holdings Inc. Sponsored ADR $PDD

Public Employees Retirement System of Ohio bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the second quarter, Holdings Channel reports. The institutional investor bought 124,422 shares of the company’s stock, valued at approximately $9,491,000.

Several other institutional investors have also modified their holdings of PDD. Geode Capital Management LLC boosted its position in shares of PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after purchasing an additional 359,921 shares during the period. Wasatch Advisors LP acquired a new position in shares of PDD during the second quarter worth about $3,658,000. Dymon Asia Capital Singapore PTE. LTD. grew its holdings in PDD by 125.4% during the 4th quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company’s stock worth $7,361,000 after acquiring an additional 36,122 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of PDD by 721.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 180,704 shares of the company’s stock valued at $20,490,000 after purchasing an additional 158,704 shares in the last quarter. Finally, Capstone Capital Management Ltd lifted its position in shares of PDD by 85.8% during the 1st quarter. Capstone Capital Management Ltd now owns 41,868 shares of the company’s stock worth $4,278,000 after purchasing an additional 19,338 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $84.00 on Tuesday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.41. The firm has a 50-day simple moving average of $85.18 and a 200-day simple moving average of $92.80. The company has a market capitalization of $119.57 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 0.65 and a beta of 0.01.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $105.00 price target on shares of PDD in a research note on Monday, August 24th. Benchmark dropped their price objective on PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. BNP Paribas Exane began coverage on PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 target price on the stock. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and an average price target of $117.17.

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.