True Light Capital Pte. Ltd. Has $63.99 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• True Light Capital Pte. Ltd. increased its PDD stake by 4.0% in the first quarter, adding 24,038 shares to bring its total to 626,300 shares. The position was valued at about $63.99 million, making PDD the firm’s largest holding.
• PDD shares were down 0.8% in Wednesday trading, with the stock opening at $83.91. The company’s shares remain well below their 52-week high of $139.41 and trade at a P/E ratio of 9.06.
• Recent earnings missed expectations, as PDD reported $1.38 EPS versus the expected $2.40 and revenue of $15.41 billion versus $15.92 billion forecast. Analysts currently have a Hold consensus rating with a consensus price target of $124.64.

True Light Capital Pte. Ltd. raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 626,300 shares of the company's stock after buying an additional 24,038 shares during the period. PDD comprises 32.3% of True Light Capital Pte. Ltd.'s holdings, making the stock its biggest holding. True Light Capital Pte. Ltd.'s holdings in PDD were worth $63,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company's stock valued at $32,000 after purchasing an additional 238 shares during the period. Binnacle Investments Inc increased its holdings in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC increased its holdings in PDD by 230.7% during the 4th 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 position in PDD during the 3rd quarter worth $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PDD during the 4th quarter valued at $44,000. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Down 0.8%

Shares of PDD stock opened at $83.91 on Wednesday. The firm's 50 day moving average price is $86.64 and its 200-day moving average price is $98.21. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.41. The company has a market cap of $119.44 billion and a P/E ratio of 9.06.

PDD (NASDAQ:PDD - Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts' consensus estimates of $2.40 by ($1.02). The firm had revenue of $15.41 billion for the quarter, compared to analysts' expectations of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The company's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 EPS. As a group, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Daiwa Securities Group reiterated a "hold" rating and issued a $80.00 target price on shares of PDD in a report on Tuesday, June 23rd. Benchmark cut their price target on PDD from $160.00 to $127.00 and set a "buy" rating on the stock in a research note on Thursday, May 28th. 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 shares of PDD in a research note on Wednesday, May 27th. Finally, Arete Research upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 target price on the stock in a report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $124.64.

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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