PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 33.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,107 shares of the company’s stock after selling 15,694 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PDD were worth $3,527,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PDD. Exchange Traded Concepts LLC boosted its position in PDD by 11.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock valued at $27,522,000 after buying an additional 25,369 shares during the last quarter. Step Capital Management Pte. Ltd. purchased a new stake in shares of PDD during the fourth quarter worth about $8,504,000. LBP AM SA purchased a new stake in shares of PDD during the fourth quarter worth about $6,690,000. Triata Capital Ltd lifted its stake in shares of PDD by 55.7% in the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock worth $336,304,000 after acquiring an additional 910,150 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of PDD in the third quarter worth about $419,287,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PDD. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a report on Wednesday, May 27th. BNP Paribas Exane started coverage on PDD in a research report on Monday. They issued an “underperform” rating and a $89.00 target price on the stock. Barclays cut PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Friday, April 17th. Finally, Benchmark dropped their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $128.08.

PDD Stock Performance

Shares of PDD stock opened at $79.56 on Friday. The stock has a market capitalization of $113.25 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.63 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a one year low of $78.51 and a one year high of $139.41. The company’s 50-day simple moving average is $93.29 and its 200-day simple moving average is $102.20.

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

About PDD

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.