Wasatch Advisors LP Makes New Investment in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Wasatch Advisors LP initiated a PDD Holdings position in the second quarter, purchasing 47,950 shares valued at approximately $3.66 million. Institutional investors and hedge funds collectively own 39.83% of the company.
• PDD shares opened at $89.04 after declining 1.6%, and the company recently reported quarterly EPS of $1.38, missing estimates of $2.40, while revenue of $15.41 billion also fell short of expectations.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $124.64, though several firms recently cut their targets following the earnings miss.

Wasatch Advisors LP purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,950 shares of the company's stock, valued at approximately $3,658,000.

Other hedge funds also recently made changes to their positions in the company. LBP AM SA purchased a new position in PDD during the fourth quarter worth approximately $6,690,000. Geode Capital Management LLC grew its holdings in PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company's stock valued at $761,720,000 after buying an additional 359,921 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. increased its stake in shares of PDD by 125.4% in the 4th quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company's stock worth $7,361,000 after acquiring an additional 36,122 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of PDD by 721.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 180,704 shares of the company's stock worth $20,490,000 after acquiring an additional 158,704 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of PDD during the 4th quarter worth $24,192,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Trading Down 1.6%

NASDAQ PDD opened at $89.04 on Thursday. The stock has a fifty day simple moving average of $83.89 and a 200-day simple moving average of $94.40. The stock has a market cap of $126.74 billion, a PE ratio of 9.62, a P/E/G ratio of 0.74 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share (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 net margin of 21.86% and a return on equity of 24.32%. The firm's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. Research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analysts Set New Price Targets

PDD has been the topic of several recent research reports. Benchmark lowered their price target on shares of PDD from $160.00 to $127.00 and set a "buy" rating on the stock in a research report on Thursday, May 28th. Barclays downgraded shares of PDD from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Sanford C. Bernstein decreased their target price on shares of PDD from $132.00 to $110.00 and set a "market perform" rating on the stock in a report on Wednesday, May 27th. Morgan Stanley set a $129.00 price target 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 price target for the company in a report on Friday, April 17th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $124.64.

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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