Nykredit A S Purchases Shares of 131,648 PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Nykredit A/S initiated a position in PDD Holdings, buying 131,648 shares worth approximately $10.04 million during the second quarter.
• Other institutional investors also increased or initiated holdings, bringing institutional ownership of PDD to 39.83%.
• PDD shares opened at $78.90, below their 50-day and 200-day moving averages. Analysts have a consensus “Hold” rating and an average price target of $113.31, despite the company reporting $2.84 in quarterly EPS and $16.54 billion in revenue.

Nykredit A S purchased a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 131,648 shares of the company's stock, valued at approximately $10,042,000.

Several other hedge funds have also recently made changes to their positions in PDD. Formuepleje A S acquired a new stake in PDD during the second quarter worth approximately $947,000. Raiffeisen Bank International AG increased its holdings in PDD by 28.3% in the second quarter. Raiffeisen Bank International AG now owns 7,294 shares of the company's stock worth $558,000 after purchasing an additional 1,607 shares in the last quarter. NEOS Investment Management LLC increased its holdings in PDD by 10.7% in the second quarter. NEOS Investment Management LLC now owns 404,232 shares of the company's stock worth $30,835,000 after purchasing an additional 38,930 shares in the last quarter. Quantitative Investment Management LLC acquired a new position in PDD in the second quarter valued at approximately $2,599,000. Finally, Public Employees Retirement System of Ohio acquired a new position in PDD in the second quarter valued at approximately $9,491,000. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

PDD stock opened at $78.90 on Monday. The business has a 50-day simple moving average of $85.06 and a two-hundred day simple moving average of $90.48. The company has a market capitalization of $112.31 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 0.60 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.41.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $2.84 EPS for the quarter. The firm had revenue of $16.54 billion during the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. As a group, sell-side analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PDD. Sanford C. Bernstein reduced their price objective on shares of PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a research report on Wednesday, May 27th. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. The Goldman Sachs Group restated a "buy" rating on shares of PDD in a report on Thursday, May 28th. Nomura downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Finally, Zacks Research upgraded shares of PDD from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $113.31.

PDD Company Profile

PDD Holdings Inc is a multinational commerce group that operates technology platforms connecting consumers, merchants, producers and suppliers. The company's businesses focus on online retail, agricultural commerce and value-oriented shopping experiences, using interactive features, data and consumer demand to support transactions and product discovery.

Its flagship platform, Pinduoduo, serves consumers in China and offers a broad selection of products, including agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.

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