Public Employees Retirement System of Ohio Sells 52,258 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Public Employees Retirement System of Ohio cut its PDD Holdings stake by 26.4% in the first quarter, selling 52,258 shares and retaining 145,453 shares valued at approximately $14.9 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $124.64; recent targets range from $89 to $129.
• PDD reported quarterly revenue of $15.41 billion, up 11% year over year but below estimates, while EPS of $1.38 missed the $2.40 consensus. Shares opened at $82.66, near the lower end of their 52-week range.

Public Employees Retirement System of Ohio trimmed its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 26.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 145,453 shares of the company's stock after selling 52,258 shares during the period. Public Employees Retirement System of Ohio's holdings in PDD were worth $14,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted 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 buying an additional 238 shares during the period. Binnacle Investments Inc grew its stake in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock valued at $36,000 after buying an additional 200 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in PDD by 230.7% in the 4th 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 in the 3rd quarter worth $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PDD during the 4th quarter worth $44,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PDD. Jefferies Financial Group restated a "buy" rating on shares of PDD in a report on Wednesday, May 27th. Morgan Stanley set a $129.00 price objective on PDD in a research report on Wednesday, May 27th. Sanford C. Bernstein decreased their target price on PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a research note on Wednesday, May 27th. BNP Paribas Exane started coverage on PDD in a report on Monday, June 15th. They issued an "underperform" rating and a $89.00 target price on the stock. Finally, Citigroup dropped their price target on PDD from $142.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $124.64.

PDD Price Performance

NASDAQ PDD opened at $82.66 on Monday. The firm has a market capitalization of $117.66 billion and a price-to-earnings ratio of 8.93. The company's fifty day moving average is $84.42 and its two-hundred day moving average is $96.51. 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 announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the prior year, the company posted $1.57 EPS. The firm's quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

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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