PDD Holdings Inc. Sponsored ADR $PDD Position Lifted by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 204.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,423 shares of the company’s stock after buying an additional 6,331 shares during the quarter. Legacy Capital Group California Inc.’s holdings in PDD were worth $963,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in PDD by 11.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after acquiring an additional 25,369 shares in the last quarter. Step Capital Management Pte. Ltd. acquired a new position in shares of PDD in the 4th quarter valued at about $8,504,000. LBP AM SA acquired a new position in shares of PDD in the 4th quarter valued at about $6,690,000. Geode Capital Management LLC lifted its position in shares of PDD by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after purchasing an additional 359,921 shares in the last quarter. Finally, Dymon Asia Capital Singapore PTE. LTD. lifted its position in shares of PDD by 125.4% in the fourth quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company’s stock worth $7,361,000 after purchasing an additional 36,122 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

PDD opened at $84.56 on Tuesday. The firm’s 50-day simple moving average is $86.90 and its 200-day simple moving average is $98.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The firm has a market cap of $120.36 billion and a price-to-earnings ratio of 9.13.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.57 EPS. As a group, sell-side analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PDD. 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 report on Thursday, May 28th. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Friday, April 17th. Sanford C. Bernstein decreased their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Finally, Morgan Stanley set a $129.00 price target on shares of PDD in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PDD presently has an average rating of “Hold” and an average price target of $124.64.

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.