PDD Holdings Inc. Sponsored ADR $PDD is Matthews International Capital Management LLC's 3rd Largest Position

Key Points

• Matthews International Capital Management cut its PDD stake by 46.3% in the first quarter, but PDD still remains its 3rd largest position, making up about 8.2% of the portfolio.
• Institutional ownership in PDD remains significant, with 39.83% of shares held by institutions. Several smaller hedge funds and asset managers also increased or initiated positions during recent quarters.
• Analysts are mixed on PDD after its latest earnings miss: the stock has a consensus Hold rating with an average price target of $124.64, while shares recently traded around $85.13.

Matthews International Capital Management LLC decreased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 46.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 198,922 shares of the company's stock after selling 171,718 shares during the period. PDD accounts for about 8.2% of Matthews International Capital Management LLC's investment portfolio, making the stock its 3rd biggest position. Matthews International Capital Management LLC's holdings in PDD were worth $20,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company's stock valued at $32,000 after buying an additional 238 shares during the period. Binnacle Investments Inc lifted its stake in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC lifted its stake in 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 period. Wexford Capital LP bought a new position in PDD during the 3rd quarter worth about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PDD during the 4th quarter worth about $44,000. 39.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PDD has been the topic of a number of research reports. The Goldman Sachs Group reissued a "buy" rating on shares of PDD in a research report on Thursday, May 28th. Jefferies Financial Group reiterated a "buy" rating on shares of PDD in a research note on Wednesday, May 27th. Citigroup dropped their price objective on shares of PDD from $142.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Daiwa Securities Group reissued a "hold" rating and set a $80.00 price objective on shares of PDD in a report on Tuesday, June 23rd. Finally, BNP Paribas Exane began coverage on shares of PDD in a research note on Monday, June 15th. They issued an "underperform" rating and a $89.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $124.64.

PDD Price Performance

PDD opened at $85.13 on Monday. The business's 50-day moving average is $87.21 and its two-hundred day moving average is $98.61. 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 market capitalization of $121.17 billion and a PE ratio of 9.19.

PDD (NASDAQ:PDD - Get Free Report) last released 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). PDD had a net margin of 21.86% and a return on equity of 24.32%. The firm had revenue of $15.41 billion for the quarter, compared to analysts' expectations of $15.92 billion. During the same period in the previous year, the company posted $1.57 earnings per share. The business's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

About PDD

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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