Renaissance Technologies LLC Grows Position in PDD Holdings Inc. Sponsored ADR $PDD

Renaissance Technologies LLC increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 306.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,112,700 shares of the company's stock after buying an additional 838,800 shares during the quarter. Renaissance Technologies LLC owned 0.08% of PDD worth $113,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in PDD by 595.0% in 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 last quarter. Binnacle Investments Inc raised its stake in shares of PDD by 281.7% during the third 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. Smartleaf Asset Management LLC boosted its holdings in shares of PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company's stock worth $43,000 after purchasing an additional 263 shares during the period. Wexford Capital LP purchased a new stake in shares of PDD during the third quarter worth about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of PDD in the fourth quarter worth about $44,000. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of PDD in a report on Thursday, May 28th. BNP Paribas Exane initiated coverage on PDD in a research report on Monday, June 15th. They issued an "underperform" rating and a $89.00 price objective on the stock. Jefferies Financial Group reissued a "buy" rating on shares of PDD in a research note on Wednesday, May 27th. Benchmark decreased their target price on PDD from $160.00 to $127.00 and set a "buy" rating for the company in a report on Thursday, May 28th. Finally, Daiwa Securities Group reaffirmed a "hold" rating and issued a $80.00 price target on shares of PDD in a research note on Tuesday, June 23rd. Seven 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. Based on data from MarketBeat.com, PDD currently has an average rating of "Hold" and a consensus target price of $124.64.

PDD Price Performance

Shares of NASDAQ PDD opened at $82.66 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.41. The stock has a market capitalization of $117.66 billion and a P/E ratio of 8.93. The company's 50-day moving average is $84.42 and its 200 day moving average is $96.67.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). The company had revenue of $15.41 billion during the quarter, compared to analysts' expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business earned $1.57 earnings per share. Research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current 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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