OMERS ADMINISTRATION Corp Purchases 33,600 Shares of PDD Holdings Inc. Sponsored ADR $PDD

OMERS ADMINISTRATION Corp boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 120.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 61,405 shares of the company’s stock after buying an additional 33,600 shares during the period. OMERS ADMINISTRATION Corp’s holdings in PDD were worth $6,274,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of PDD in the fourth quarter worth about $1,065,446,000. Himalaya Capital Management LLC bought a new stake in PDD during the 2nd quarter valued at approximately $482,273,000. Dodge & Cox purchased a new position in PDD in the 4th quarter worth approximately $503,429,000. Orbis Allan Gray Ltd boosted its stake in PDD by 135.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after purchasing an additional 3,250,416 shares during the period. Finally, SG Americas Securities LLC grew its holdings in PDD by 94.6% during the 1st quarter. SG Americas Securities LLC now owns 6,301,820 shares of the company’s stock valued at $643,920,000 after buying an additional 3,063,694 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD stock opened at $82.66 on Monday. The firm has a fifty day moving average price of $84.42 and a 200 day moving average price of $96.51. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.41. The firm has a market cap of $117.66 billion and a PE ratio of 8.93.

PDD (NASDAQ:PDD) last released its quarterly 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). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same period in the previous year, the company earned $1.57 EPS. PDD’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Sanford C. Bernstein lowered 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. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Benchmark reduced their target price on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Finally, Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.