KBC Group NV Boosts Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• KBC Group NV more than doubled its PDD stake in the first quarter, adding 241,994 shares to reach 481,118 shares valued at about $49.2 million.
• PDD shares rose 2.3% to $86.05, but the stock remains well below its 52-week high of $139.41 and under its 200-day moving average of $97.40.
• Wall Street sentiment is mixed after a weak quarter: PDD missed earnings and revenue estimates, while analysts’ views range from Buy to Hold with a consensus target price of $124.64.

KBC Group NV increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 101.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 481,118 shares of the company's stock after acquiring an additional 241,994 shares during the period. KBC Group NV's holdings in PDD were worth $49,161,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PDD. GAMMA Investing LLC boosted its holdings in PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company's stock valued at $32,000 after purchasing an additional 238 shares during the period. Binnacle Investments Inc increased its holdings in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC increased its holdings in PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock worth $43,000 after purchasing an additional 263 shares during the period. Wexford Capital LP acquired a new stake in PDD in the 3rd quarter valued at about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in PDD in the 4th quarter valued at about $44,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 2.3%

Shares of PDD stock opened at $86.05 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41. The firm's 50 day moving average is $85.47 and its two-hundred day moving average is $97.40. The firm has a market capitalization of $122.48 billion and a P/E ratio of 9.29.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $15.92 billion. During the same quarter in the prior year, the firm posted $1.57 EPS. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PDD. Daiwa Securities Group reissued a "hold" rating and set a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of PDD in a report on Wednesday, May 27th. The Goldman Sachs Group reiterated a "buy" rating on shares of PDD in a research note on Thursday, May 28th. Barclays cut shares of PDD from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. Finally, Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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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