Quantitative Investment Management LLC Makes New Investment in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Quantitative Investment Management LLC acquired 34,077 PDD shares during the second quarter, valued at approximately $2.6 million. Hedge funds and other institutional investors collectively own 39.83% of the company.
• Wall Street’s consensus rating is “Hold”, with six Buy ratings, eight Hold ratings, and one Sell rating. The consensus price target is $117.17, although several analysts recently reduced their targets.
• PDD shares opened at $85.69, versus a 12-month range of $71.94 to $139.41. The company recently reported quarterly revenue of $16.54 billion and earnings of $2.84 per share.

Quantitative Investment Management LLC acquired a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 34,077 shares of the company's stock, valued at approximately $2,599,000.

Several other hedge funds have also recently made changes to their positions in the business. 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. Grove Bank & Trust bought a new stake in PDD in the second quarter valued at $38,000. Smartleaf Asset Management LLC increased its position in PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock valued at $43,000 after purchasing an additional 263 shares during the period. Wexford Capital LP purchased a new position in PDD during the 3rd quarter valued at $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in PDD in the 4th quarter worth $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PDD shares. Sanford C. Bernstein dropped their target price on shares of PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a research report on Wednesday, May 27th. Zacks Research upgraded shares of PDD from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. Barclays downgraded shares of PDD from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $105.00 price objective on shares of PDD in a research report on Monday, August 24th. Finally, Bank of America reiterated a "neutral" rating on shares of PDD in a report on Wednesday. Six 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $117.17.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $85.69 on Monday. The stock has a fifty day simple moving average of $85.07 and a two-hundred day simple moving average of $92.95. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The stock has a market capitalization of $121.97 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.65 and a beta of 0.01.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Friday, August 14th. The company reported $2.84 EPS for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The firm had revenue of $16.54 billion for the quarter. As a group, equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.5 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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