Capstone Capital Management Ltd Purchases 19,338 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Capstone Capital Management increased its stake in PDD Holdings by 85.8% in the first quarter, buying 19,338 additional shares. The fund now holds 41,868 shares valued at about $4.28 million, making PDD its fourth-largest position.
• Other institutional investors also made modest changes to their PDD holdings, and institutional ownership stands at 39.83% of the stock.
• PDD shares were up 2.7% to $84.74, but the company recently reported earnings and revenue below expectations. Quarterly EPS came in at $1.38 versus $2.40 expected, while revenue was $15.41 billion versus $15.92 billion forecast.

Capstone Capital Management Ltd grew its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 85.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,868 shares of the company's stock after buying an additional 19,338 shares during the period. PDD accounts for about 4.2% of Capstone Capital Management Ltd's investment portfolio, making the stock its 4th biggest holding. Capstone Capital Management Ltd's holdings in PDD were worth $4,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Advisory Services Network LLC increased its position in PDD by 0.7% in the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company's stock valued at $2,043,000 after acquiring an additional 102 shares during the period. Range Financial Group LLC grew its stake in shares of PDD by 3.8% in the fourth quarter. Range Financial Group LLC now owns 3,620 shares of the company's stock worth $410,000 after purchasing an additional 131 shares in the last quarter. Focus Partners Wealth grew its stake in shares of PDD by 1.0% in the fourth quarter. Focus Partners Wealth now owns 13,886 shares of the company's stock worth $1,512,000 after purchasing an additional 142 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of PDD by 4.3% during the fourth quarter. Fifth Third Bancorp now owns 3,649 shares of the company's stock valued at $414,000 after purchasing an additional 151 shares during the period. Finally, Mariner LLC increased its holdings in shares of PDD by 0.8% during the fourth quarter. Mariner LLC now owns 22,092 shares of the company's stock valued at $2,506,000 after purchasing an additional 165 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Stock Up 2.7%

Shares of PDD stock opened at $84.74 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The firm has a market capitalization of $120.62 billion and a PE ratio of 9.15. The stock's fifty day moving average is $87.69 and its 200-day moving average is $98.97.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts' consensus estimates of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 billion during the quarter, compared to analysts' expectations of $15.92 billion. During the same period in the prior year, the business posted $1.57 EPS. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PDD. Nomura cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Jefferies Financial Group restated a "buy" rating on shares of PDD in a research report on Wednesday, May 27th. Sanford C. Bernstein decreased their price target on PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a research note on Wednesday, May 27th. Arete Research upgraded PDD from a "neutral" rating to a "buy" rating and set a $121.00 price target on the stock in a research report on Friday, April 17th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of PDD in a research note on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PDD currently has an average rating of "Hold" and an average target price of $124.64.

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.

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