Clough Capital Partners L P Sells 9,700 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Clough Capital Partners L P cut its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 53.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,450 shares of the company’s stock after selling 9,700 shares during the period. Clough Capital Partners L P’s holdings in PDD were worth $958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after acquiring an additional 238 shares in the last quarter. Binnacle Investments Inc increased its position in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after acquiring an additional 263 shares in the last quarter. Wexford Capital LP bought a new stake in shares of PDD during the third quarter worth about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of PDD during the fourth quarter worth about $44,000. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein decreased their target price on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Friday, April 17th. Benchmark reduced their price objective on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Finally, BNP Paribas Exane initiated coverage on shares of PDD in a research report on Monday. They issued an “underperform” rating and a $89.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $128.08.

PDD Trading Down 2.1%

PDD stock opened at $79.86 on Thursday. The firm’s 50 day simple moving average is $94.17 and its 200 day simple moving average is $102.62. The firm has a market capitalization of $113.67 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 0.65 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.87 and a 1-year high of $139.41.

PDD (NASDAQ:PDD) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.57 EPS. Research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share 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.