PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its PDD Holdings stake by 47.7% in the first quarter, adding 145,683 shares to hold 451,093 shares valued at approximately $46.1 million. Institutional investors and hedge funds own 39.83% of PDD.
• PDD’s latest quarterly results fell short of expectations, with EPS of $1.38 versus the $2.40 consensus estimate and revenue of $15.41 billion versus $15.92 billion expected. Revenue still grew 11% year over year.
• PDD shares opened at $84.85, while analysts maintained a consensus “Hold” rating and an average price target of $124.64; recommendations ranged from a $89 underperform target to a $129 target.

Arrowstreet Capital Limited Partnership increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 47.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 451,093 shares of the company's stock after buying an additional 145,683 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in PDD were worth $46,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Binnacle Investments Inc increased its stake in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company's stock worth $32,000 after acquiring an additional 238 shares during the period. Wexford Capital LP acquired a new stake in shares of PDD in the third quarter worth approximately $44,000. 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in PDD in the fourth quarter valued at approximately $44,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Trading Up 2.6%

NASDAQ:PDD opened at $84.85 on Tuesday. The firm has a market capitalization of $120.78 billion and a price-to-earnings ratio of 9.16. The firm's fifty day simple moving average is $84.22 and its 200 day simple moving average is $96.24. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (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 company had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PDD. Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Barclays lowered shares of PDD from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $165.00 to $89.00 in a report on Thursday, May 28th. BNP Paribas Exane began coverage on PDD in a report on Monday, June 15th. They set an "underperform" rating and a $89.00 price objective for the company. Citigroup dropped their price target on PDD from $142.00 to $123.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Finally, Arete Research upgraded PDD from a "neutral" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus 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.

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