72,600 Shares in PDD Holdings Inc. Sponsored ADR $PDD Acquired by BRIGHT VALLEY CAPITAL Ltd

BRIGHT VALLEY CAPITAL Ltd acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 72,600 shares of the company’s stock, valued at approximately $8,232,000. PDD accounts for about 3.1% of BRIGHT VALLEY CAPITAL Ltd’s investment portfolio, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds also recently bought and sold shares of PDD. Vanguard Group Inc. grew its holdings in shares of PDD by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after purchasing an additional 425,908 shares during the last quarter. Norges Bank bought a new position in shares of PDD in the fourth quarter valued at about $1,065,446,000. Geode Capital Management LLC lifted its position in PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after buying an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its holdings in PDD by 4.2% during the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock worth $725,465,000 after acquiring an additional 258,888 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Down 0.6%

Shares of NASDAQ PDD opened at $81.30 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $78.87 and a 1 year high of $139.41. The firm’s 50-day moving average is $95.73 and its 200-day moving average is $103.55. The firm has a market capitalization of $115.72 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Sanford C. Bernstein decreased their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. Benchmark lowered their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, May 28th. 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 research report on Friday, April 17th. Finally, Morgan Stanley set a $129.00 price objective on PDD in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and an average target price of $131.33.

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.