PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG cut its PDD stake by 66.2% in the second quarter, selling 31,662 shares and retaining 16,133 shares valued at approximately $1.23 million.
• Institutional investor activity was mixed: H&H International and Orbis Allan Gray increased their positions, while Norges Bank, Himalaya Capital, and Dodge & Cox initiated new stakes. Hedge funds and other institutions own 39.83% of PDD.
• PDD reported quarterly revenue of $16.54 billion and earnings of $2.84 per share, while analysts maintain a consensus “Hold” rating with an average price target of $117.17.

B. Metzler seel. Sohn & Co. AG lessened its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 66.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,133 shares of the company's stock after selling 31,662 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in PDD were worth $1,231,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PDD. Norges Bank purchased a new stake in PDD during the 4th quarter worth approximately $1,065,446,000. H&H International Investment LLC boosted its stake in shares of PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company's stock valued at $2,017,881,000 after buying an additional 8,211,600 shares during the last quarter. Himalaya Capital Management LLC purchased a new position in shares of PDD during the 2nd quarter valued at approximately $482,273,000. Dodge & Cox acquired a new stake in shares of PDD during the fourth quarter worth approximately $503,429,000. Finally, Orbis Allan Gray Ltd grew its position in shares of PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company's stock worth $591,091,000 after buying an additional 3,250,416 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $82.21 on Monday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The company has a fifty day moving average price of $85.72 and a two-hundred day moving average price of $92.27. The company has a market cap of $117.02 billion, a PE ratio of 9.05, a P/E/G ratio of 0.62 and a beta of -0.01.

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

Analyst Upgrades and Downgrades

PDD has been the topic of several recent analyst reports. Citigroup cut their price target on shares of PDD from $142.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Zacks Research raised shares of PDD from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Barclays downgraded shares of PDD from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Sanford C. Bernstein cut their target price 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. Finally, BNP Paribas Exane began coverage on shares of PDD in a research report on Monday, June 15th. They set an "underperform" rating and a $89.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, PDD presently has an average rating of "Hold" and a consensus target price of $117.17.

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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