PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,029 shares of the company’s stock after purchasing an additional 34,750 shares during the period. Handelsbanken Fonder AB’s holdings in PDD were worth $31,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Focus Partners Wealth lifted its holdings in shares of PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after buying an additional 7,744 shares during the period. Intech Investment Management LLC boosted its stake in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after buying an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in PDD by 62.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock worth $174,000 after acquiring an additional 637 shares during the period. Cerity Partners LLC grew its holdings in PDD by 2.0% during the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after acquiring an additional 382 shares during the period. Finally, CIBC Asset Management Inc raised its position in PDD by 0.3% during the second quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock valued at $14,914,000 after acquiring an additional 369 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 2.7%

NASDAQ:PDD opened at $90.50 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.41. The stock has a market capitalization of $128.82 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.76 and a beta of 0.01. The stock’s 50-day moving average price is $83.81 and its 200-day moving average price is $94.51.

PDD (NASDAQ:PDD) last announced its quarterly earnings results 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). The business 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%. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. Sell-side analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PDD shares. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research note on Wednesday, May 27th. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Zacks Research cut shares of PDD from a “hold” rating to a “strong sell” rating in a research note on Monday, July 27th. Finally, Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, April 17th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently 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.