Grafton Street Partners Fund LP Takes $4.63 Million Position 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 purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 39,100 shares of the company's stock, valued at approximately $4,627,000. PDD accounts for 3.6% of Grafton Street Partners Fund LP's holdings, making the stock its 11th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PDD. Baillie Gifford & Co. grew its position in shares of PDD by 5.2% in the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock valued at $4,739,595,000 after purchasing an additional 1,987,935 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PDD by 9,469.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock valued at $4,695,948,000 after purchasing an additional 39,263,851 shares during the period. Vanguard Group Inc. grew its position in shares of PDD by 1.5% in the first quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock valued at $3,441,556,000 after purchasing an additional 416,867 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares during the period. Finally, Dragoneer Investment Group LLC grew its position in shares of PDD by 48.8% in the fourth quarter. Dragoneer Investment Group LLC now owns 5,572,094 shares of the company's stock valued at $540,437,000 after purchasing an additional 1,827,853 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PDD shares. JPMorgan Chase & Co. dropped their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. New Street Research lowered shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price on the stock. in a research report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. China Renaissance restated a "hold" rating and set a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Finally, Benchmark restated a "buy" rating and set a $160.00 price target (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $137.82.

PDD Trading Down 1.6%

PDD stock traded down $2.00 during trading on Monday, reaching $120.22. 11,921,109 shares of the stock were exchanged, compared to its average volume of 9,128,307. The business has a 50 day moving average price of $112.47 and a 200-day moving average price of $111.23. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67. The firm has a market capitalization of $167.36 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.42 and a beta of 0.46.

About PDD

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.