PDD Holdings Inc. Sponsored ADR $PDD is Capital Today Evergreen Fund L.P.'s Largest Position

Key Points

• Capital Today Evergreen Fund L.P. trimmed its PDD stake by 15.2% in the first quarter, but PDD still remains its largest holding at about 81.8% of the fund’s portfolio. The fund owned 1,385,004 shares valued at roughly $141.5 million.
• PDD’s latest earnings report missed Wall Street expectations, with EPS of $1.38 versus the $2.40 estimate and revenue of $15.41 billion versus $15.92 billion expected. Revenue still grew 11% year over year, but the miss pressured sentiment.
• Analysts are cautious overall: several firms cut price targets, and the stock now carries a consensus Hold rating with an average target price of $124.64. PDD shares recently traded at $85.13, well below the average target and under both the 50-day and 200-day moving averages.

Capital Today Evergreen Fund L.P. reduced its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,385,004 shares of the company's stock after selling 249,073 shares during the period. PDD makes up about 81.8% of Capital Today Evergreen Fund L.P.'s investment portfolio, making the stock its biggest holding. Capital Today Evergreen Fund L.P. owned approximately 0.10% of PDD worth $141,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in PDD. Advisory Services Network LLC boosted its position in shares of PDD by 0.7% in the third quarter. Advisory Services Network LLC now owns 15,458 shares of the company's stock worth $2,043,000 after buying an additional 102 shares during the period. Range Financial Group LLC raised its holdings in shares of PDD by 3.8% during the 4th quarter. Range Financial Group LLC now owns 3,620 shares of the company's stock valued at $410,000 after buying an additional 131 shares during the period. Focus Partners Wealth lifted its position in PDD by 1.0% during the 4th quarter. Focus Partners Wealth now owns 13,886 shares of the company's stock worth $1,512,000 after acquiring an additional 142 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of PDD by 4.3% during the fourth quarter. Fifth Third Bancorp now owns 3,649 shares of the company's stock worth $414,000 after purchasing an additional 151 shares in the last quarter. Finally, Mariner LLC boosted its stake in shares of PDD by 0.8% in the fourth quarter. Mariner LLC now owns 22,092 shares of the company's stock valued at $2,506,000 after purchasing an additional 165 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $85.13 on Friday. The firm has a market cap of $121.17 billion and a price-to-earnings ratio of 9.19. PDD Holdings Inc. Sponsored ADR has a 1-year low of $71.94 and a 1-year high of $139.41. The firm has a fifty day moving average price of $87.21 and a two-hundred day moving average price of $98.70.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.57 earnings per share. As a group, analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PDD shares. Sanford C. Bernstein dropped their price target on shares of PDD from $132.00 to $110.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 27th. Citigroup lowered their target price on PDD from $142.00 to $123.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Benchmark dropped their target price on PDD from $160.00 to $127.00 and set a "buy" rating on the stock in a research report on Thursday, May 28th. The Goldman Sachs Group reiterated a "buy" rating on shares of PDD in a research note on Thursday, May 28th. Finally, BNP Paribas Exane started coverage on PDD in a report on Monday, June 15th. They issued an "underperform" rating and a $89.00 price target for the company. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $124.64.

PDD Company 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.

Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.