Twin Peaks Capital Ltd Buys 65,000 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Twin Peaks Capital bought a new 65,000-share stake in PDD in the third quarter, valued at about $5.1 million. PDD represents roughly 2.9% of the firm's portfolio and is its fifth-largest holding.
• Other institutional investors also added to or initiated PDD positions during the quarter; institutional investors and hedge funds collectively own 39.83% of the company.
• PDD shares traded at $83.03, and analyst sentiment was mixed: the consensus rating was Hold with an average price target of $110.31.

Twin Peaks Capital Ltd bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 65,000 shares of the company's stock, valued at approximately $5,066,000. PDD makes up approximately 2.9% of Twin Peaks Capital Ltd's holdings, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDD. International Assets Investment Management LLC boosted its position in PDD by 23.4% during the third quarter. International Assets Investment Management LLC now owns 4,434 shares of the company's stock worth $339,000 after purchasing an additional 841 shares during the period. Commonwealth Equity Services LLC grew its holdings in PDD by 11.3% during the third quarter. Commonwealth Equity Services LLC now owns 3,016 shares of the company's stock valued at $235,000 after purchasing an additional 307 shares during the last quarter. Rakuten Investment Management Inc. raised its position in shares of PDD by 9.0% in the third quarter. Rakuten Investment Management Inc. now owns 88,907 shares of the company's stock valued at $6,890,000 after purchasing an additional 7,361 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of PDD in the third quarter valued at approximately $25,138,000. Finally, ProShare Advisors LLC raised its position in shares of PDD by 6.1% in the third quarter. ProShare Advisors LLC now owns 681,188 shares of the company's stock valued at $53,092,000 after purchasing an additional 38,990 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Price Performance

Shares of NASDAQ PDD traded down $0.92 during mid-day trading on Friday, hitting $83.03. The company had a trading volume of 6,501,645 shares, compared to its average volume of 5,289,521. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.12. The firm has a market cap of $118.18 billion, a P/E ratio of 9.14, a PEG ratio of 0.65 and a beta of -0.03. The business's 50-day simple moving average is $79.82 and its 200-day simple moving average is $90.54.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. The firm had revenue of $16.54 billion for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. As a group, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PDD shares. Arete Research downgraded shares of PDD from a "buy" rating to a "neutral" rating and set a $93.00 price objective for the company. in a report on Monday, September 7th. Deutsche Bank Aktiengesellschaft upgraded shares of PDD from a "hold" rating to a "buy" rating in a research note on Thursday, October 29th. Zacks Research upgraded shares of PDD from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Benchmark cut their price objective on PDD from $127.00 to $114.00 and set a "buy" rating for the company in a research report on Tuesday, August 25th. Finally, Bank of America restated a "neutral" rating on shares of PDD in a research note on Wednesday, August 26th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $110.31.

PDD Company Profile

PDD Holdings Inc operates e-commerce platforms that connect consumers with merchants and other suppliers. Its businesses include Pinduoduo, a marketplace focused on China, and Temu, an international online marketplace.

Pinduoduo uses interactive shopping features, including group buying, and offers products across categories such as groceries, apparel, home goods and electronics. The platform has also emphasized agricultural products, connecting farmers with consumers and other buyers.

Temu serves customers in multiple markets outside China and offers a wide range of merchandise from suppliers and brands.

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