12,412 Shares in PDD Holdings Inc. Sponsored ADR $PDD Purchased by Formuepleje A S

Key Points

• Formuepleje A S purchased 12,412 shares of PDD Holdings during the second quarter, valued at approximately $947,000. Hedge funds and other institutional investors collectively own 39.83% of the company.
• PDD reported quarterly earnings of $2.84 per share on revenue of $16.54 billion, with a 20.73% net margin and 22.29% return on equity.
• PDD shares opened at $82.21, below their 50-day and 200-day moving averages. Analysts have a consensus “Hold” rating and an average price target of $117.17.

Formuepleje A S acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,412 shares of the company's stock, valued at approximately $947,000.

Other hedge funds also recently bought and sold shares of the company. Binnacle Investments Inc increased its position in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after acquiring an additional 200 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of PDD in the 3rd quarter valued at approximately $44,000. Smartleaf Asset Management LLC lifted its position in shares of PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock valued at $43,000 after acquiring an additional 263 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PDD in the 4th quarter worth approximately $44,000. Finally, Larson Financial Group LLC boosted its stake in PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company's stock worth $53,000 after purchasing an additional 353 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $82.21 on Monday. The company's fifty day simple moving average is $85.72 and its 200-day simple moving average is $92.27. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The stock has a market cap of $117.02 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.62 and a beta of -0.01.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The business had revenue of $16.54 billion for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. On average, equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PDD has been the topic of several recent analyst reports. Nomura downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $105.00 target price on shares of PDD in a research report on Monday, August 24th. Morgan Stanley set a $129.00 price target on PDD in a report on Wednesday, May 27th. Sanford C. Bernstein dropped their price target on PDD from $132.00 to $110.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 27th. Finally, Zacks Research raised PDD from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $117.17.

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.

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