RBF Capital LLC Buys Shares of 20,000 PDD Holdings Inc. Sponsored ADR $PDD

RBF Capital LLC bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,000 shares of the company’s stock, valued at approximately $2,044,000.

Several other hedge funds have also recently modified their holdings of PDD. Vanguard Group Inc. lifted its holdings in shares of PDD by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock valued at $3,720,397,000 after purchasing an additional 425,908 shares in the last quarter. H&H International Investment LLC increased its holdings in PDD by 71.2% in the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after buying an additional 8,211,600 shares in the last quarter. Norges Bank purchased a new position in PDD in the 4th quarter worth about $1,065,446,000. Geode Capital Management LLC raised its position in PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after buying an additional 359,921 shares during the last quarter. Finally, Krane Funds Advisors LLC lifted its stake in PDD by 4.2% during the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock valued at $725,465,000 after acquiring an additional 258,888 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PDD shares. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Morgan Stanley set a $129.00 target price on shares of PDD in a research report on Wednesday, May 27th. BNP Paribas Exane started coverage on shares of PDD in a research note on Monday, June 15th. They set an “underperform” rating and a $89.00 target price for the company. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $124.64.

PDD Stock Performance

Shares of PDD stock opened at $88.32 on Thursday. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The stock’s fifty day moving average is $83.79 and its 200 day moving average is $95.76. The stock has a market cap of $125.71 billion and a P/E ratio of 9.54.

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 the consensus estimate of $2.40 by ($1.02). The company had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.57 EPS. Analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current 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.