Royal London Asset Management Ltd. Buys 7,800 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Royal London Asset Management Ltd. raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.1% in the 4th quarter, Holdings Channel reports. The firm owned 696,172 shares of the company’s stock after acquiring an additional 7,800 shares during the period. Royal London Asset Management Ltd.’s holdings in PDD were worth $78,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PDD. Focus Partners Wealth boosted its holdings in shares of PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after acquiring an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of PDD by 62.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of PDD by 2.0% in the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after acquiring an additional 382 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of PDD by 0.3% in the 2nd 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 during the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $165.00 to $89.00 in a report 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 report on Friday, April 17th. Morgan Stanley set a $129.00 price target on shares of PDD in a report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a report on Thursday, May 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.33.

PDD News Summary

Here are the key news stories impacting PDD this week:

• Negative Sentiment: Analysts have turned more cautious on PDD, with one report saying the stock’s modeled fair value was cut from US$148.52 to US$119.85, reflecting worries about heavier investment, softer monetization, and slower order growth. PDD Holdings (PDD) Stock Fair Value Falls After Analysts Cut Targets On Q1 Concerns
• Negative Sentiment: Multiple law firms are continuing securities fraud investigations into PDD Holdings, keeping legal and headline risk elevated for shareholders. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Negative Sentiment: Another legal notice from Frank R. Cruz’s law firm said it is still investigating PDD, adding to concerns about possible federal securities-law violations. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Neutral Sentiment: PDD is drawing unusual investor attention, with Zacks noting heavy web searches and option-market activity, which can signal rising speculation but does not by itself confirm a fundamental change. Investors Heavily Search PDD Holdings Inc. Sponsored ADR (PDD): Here is What You Need to Know
• Neutral Sentiment: Options-trading activity has also picked up around PDD, suggesting traders are positioning for a larger move, but the direction remains unclear. Do Options Traders Know Something About PDD Holdings Stock We Don’t?

PDD Price Performance

PDD stock opened at $81.56 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 has a market capitalization of $116.09 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02. The company’s 50-day moving average is $95.33 and its 200 day moving average is $103.40.

PDD (NASDAQ:PDD) last posted 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 firm had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $1.57 earnings per share. Research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

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.