NEOS Investment Management LLC Raises Stake in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• NEOS Investment Management increased its PDD stake by 10.7% in the second quarter, adding 38,930 shares for a total of 404,232 shares valued at approximately $30.8 million. Institutional investors and hedge funds collectively own 39.83% of PDD.
• Analyst sentiment is mixed, with six Buy, eight Hold, and one Sell rating; the consensus is Hold with an average price target of $117.17, above the stock’s reported $82.21 opening price.
• PDD reported quarterly earnings of $2.84 per share on $16.54 billion in revenue, alongside a 20.73% net margin and 22.29% return on equity. The stock has traded between $71.94 and $139.41 over the past year.

NEOS Investment Management LLC increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 10.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 404,232 shares of the company's stock after acquiring an additional 38,930 shares during the quarter. NEOS Investment Management LLC's holdings in PDD were worth $30,835,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Grove Bank & Trust purchased a new position in shares of PDD during the 2nd quarter worth about $38,000. Smartleaf Asset Management LLC boosted its position in shares of PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock worth $43,000 after acquiring an additional 263 shares during the last quarter. Wexford Capital LP acquired a new position in PDD during the third quarter worth approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PDD during the fourth quarter worth approximately $44,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDD has been the subject of several research reports. Benchmark lowered their price objective on shares of PDD from $127.00 to $114.00 and set a "buy" rating for the company in a research note on Tuesday, August 25th. Bank of America restated a "neutral" rating on shares of PDD in a research note on Wednesday, August 26th. Sanford C. Bernstein decreased their price objective on shares of PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a report on Wednesday, May 27th. Jefferies Financial Group reissued a "buy" rating on shares of PDD in a research note on Wednesday, May 27th. Finally, BNP Paribas Exane started coverage on PDD in a research report on Monday, June 15th. They set an "underperform" rating and a $89.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $117.17.

PDD Trading Up 0.7%

Shares of PDD stock opened at $82.21 on Friday. The stock has a 50-day moving average price of $85.72 and a 200 day moving average price of $92.32. The company 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 Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.41.

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

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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