USS Investment Management Ltd Sells 96,978 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• USS Investment Management Ltd cut its PDD Holdings stake by 20.5% in the fourth quarter, selling 96,978 shares and leaving it with 375,076 shares valued at about $42.5 million.
• Institutional ownership in PDD remains high, with major holders like Vanguard, Norges Bank, and Geode Capital Management all maintaining or adding positions; institutions own about 39.83% of the stock.
• Wall Street sentiment is mixed but still constructive overall: analysts have a Moderate Buy consensus with a $131.33 price target, even as several firms recently trimmed targets after PDD’s earnings miss and cautious outlook.

USS Investment Management Ltd reduced its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 375,076 shares of the company's stock after selling 96,978 shares during the period. USS Investment Management Ltd's holdings in PDD were worth $42,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company's stock valued at $3,720,397,000 after purchasing an additional 425,908 shares in the last quarter. Norges Bank bought a new stake in PDD in the fourth quarter valued at $1,065,446,000. Geode Capital Management LLC increased its stake in PDD by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company's stock valued at $761,720,000 after purchasing an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company's stock valued at $762,991,000 after purchasing an additional 5,070,827 shares in the last quarter. Finally, Krane Funds Advisors LLC increased its stake in PDD by 4.2% in the fourth quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company's stock valued at $725,465,000 after purchasing an additional 258,888 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PDD shares. Citigroup decreased their price target on shares of PDD from $142.00 to $123.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Arete Research upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 price objective for the company in a report on Friday, April 17th. Sanford C. Bernstein reduced their price objective on shares of PDD from $132.00 to $110.00 and set a "market perform" rating for the company in a report on Wednesday, May 27th. Barclays cut shares of PDD from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of PDD in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.33.

PDD Stock Performance

PDD stock opened at $81.56 on Monday. The stock has a market cap of $116.09 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.85 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $78.87 and a fifty-two week high of $139.41. The firm's 50-day simple moving average is $95.33 and its 200 day simple moving average is $103.33.

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 the consensus estimate of $2.40 by ($1.02). The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. As a group, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

More PDD News

Here are the key news stories impacting PDD this week:

• Negative Sentiment: Analysts have turned more cautious on PDD, with one report saying the stock’s modeled fair value was cut from US$148.52 to US$119.85, reflecting worries about heavier investment, softer monetization, and slower order growth. PDD Holdings (PDD) Stock Fair Value Falls After Analysts Cut Targets On Q1 Concerns
• Negative Sentiment: Multiple law firms are continuing securities fraud investigations into PDD Holdings, keeping legal and headline risk elevated for shareholders. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Negative Sentiment: Another legal notice from Frank R. Cruz’s law firm said it is still investigating PDD, adding to concerns about possible federal securities-law violations. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Neutral Sentiment: PDD is drawing unusual investor attention, with Zacks noting heavy web searches and option-market activity, which can signal rising speculation but does not by itself confirm a fundamental change. Investors Heavily Search PDD Holdings Inc. Sponsored ADR (PDD): Here is What You Need to Know
• Neutral Sentiment: Options-trading activity has also picked up around PDD, suggesting traders are positioning for a larger move, but the direction remains unclear. Do Options Traders Know Something About PDD Holdings Stock We Don't?

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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