Public Employees Retirement System of Ohio Has $14.86 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Public Employees Retirement System of Ohio lowered its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 26.4% during the first quarter, HoldingsChannel.com reports. The fund owned 145,453 shares of the company’s stock after selling 52,258 shares during the period. Public Employees Retirement System of Ohio’s holdings in PDD were worth $14,862,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Compound Planning Inc. boosted its stake in PDD by 17.3% in the 1st quarter. Compound Planning Inc. now owns 10,701 shares of the company’s stock valued at $1,093,000 after buying an additional 1,582 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in PDD by 47.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 451,093 shares of the company’s stock worth $46,093,000 after acquiring an additional 145,683 shares in the last quarter. Caxton Associates LLP bought a new position in shares of PDD during the first quarter valued at $511,000. Siren L.L.C. lifted its holdings in shares of PDD by 31.5% during the first quarter. Siren L.L.C. now owns 83,401 shares of the company’s stock valued at $8,522,000 after acquiring an additional 20,000 shares during the period. Finally, Perseverance Asset Management International grew its holdings in shares of PDD by 10.2% in the 1st quarter. Perseverance Asset Management International now owns 2,161,676 shares of the company’s stock worth $220,880,000 after purchasing an additional 199,584 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

PDD opened at $82.66 on Monday. The firm’s fifty day moving average is $84.42 and its two-hundred day moving average is $96.51. The firm has a market cap of $117.66 billion and a PE ratio of 8.93. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Benchmark dropped their price target on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, May 28th. BNP Paribas Exane initiated coverage on PDD in a research report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price objective on the stock. Citigroup lowered their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and a consensus target price 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.