Grafton Street Partners Fund LP Makes New $4.63 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Grafton Street Partners Fund LP has invested approximately $4.63 million in PDD Holdings Inc., acquiring 39,100 shares, making it the 11th largest position in their portfolio.
• Several hedge funds, including State of Wyoming and Taikang Asset Management Hong Kong, have significantly increased their investments in PDD, indicating strong institutional interest.
• PDD’s recent earnings report showed revenues of $13.19 billion but **missed** earnings expectations by $0.88, with analysts projecting an average target price of $137.82 for the stock.

Grafton Street Partners Fund LP acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 39,100 shares of the company's stock, valued at approximately $4,627,000. PDD makes up 3.6% of Grafton Street Partners Fund LP's holdings, making the stock its 11th biggest holding.

A number of other large investors also recently made changes to their positions in PDD. Northern Trust Corp increased its position in shares of PDD by 182.8% in the 4th quarter. Northern Trust Corp now owns 3,236,686 shares of the company's stock valued at $313,926,000 after buying an additional 2,092,160 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of PDD by 4.1% during the 4th quarter. AQR Capital Management LLC now owns 884,082 shares of the company's stock worth $85,747,000 after buying an additional 35,036 shares during the last quarter. Wahed Invest LLC boosted its stake in shares of PDD by 12.5% during the 4th quarter. Wahed Invest LLC now owns 10,825 shares of the company's stock worth $1,050,000 after buying an additional 1,199 shares during the last quarter. Bienville Capital Management LLC boosted its stake in shares of PDD by 729.0% during the 4th quarter. Bienville Capital Management LLC now owns 102,800 shares of the company's stock worth $9,971,000 after buying an additional 90,400 shares during the last quarter. Finally, 683 Capital Management LLC boosted its stake in shares of PDD by 6.7% during the 4th quarter. 683 Capital Management LLC now owns 95,000 shares of the company's stock worth $9,214,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of recent research reports. Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. China Renaissance restated a "hold" rating and set a $107.00 price objective on shares of PDD in a research note on Wednesday, May 28th. Citigroup restated a "buy" rating on shares of PDD in a research note on Monday, August 25th. Barclays increased their price objective on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Finally, Bank of America increased their price objective on shares of PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and an average target price of $137.82.

PDD Trading Up 1.7%

PDD stock traded up $2.09 during mid-day trading on Wednesday, hitting $123.78. 3,405,656 shares of the company were exchanged, compared to its average volume of 9,075,710. The business has a 50 day simple moving average of $113.13 and a 200-day simple moving average of $111.27. The stock has a market capitalization of $172.32 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.