Banco BTG Pactual S.A. Boosts Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Banco BTG Pactual S.A. boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 135.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,967 shares of the company’s stock after purchasing an additional 39,635 shares during the quarter. PDD makes up approximately 1.3% of Banco BTG Pactual S.A.’s holdings, making the stock its 19th largest holding. Banco BTG Pactual S.A.’s holdings in PDD were worth $7,820,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PDD. Norges Bank acquired a new position in shares of PDD in the 4th quarter worth approximately $1,065,446,000. Assenagon Asset Management S.A. lifted its holdings in shares of PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after purchasing an additional 5,070,827 shares during the last quarter. Himalaya Capital Management LLC bought a new stake in PDD during the 2nd quarter valued at $482,273,000. Orbis Allan Gray Ltd raised its stake in PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after acquiring an additional 3,250,416 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new stake in PDD during the 3rd quarter valued at $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ PDD opened at $81.30 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $78.87 and a twelve month high of $139.41. The stock has a market capitalization of $115.72 billion, a PE ratio of 8.78, a P/E/G ratio of 0.85 and a beta of -0.02. The stock has a 50-day simple moving average of $95.73 and a 200 day simple moving average of $103.55.

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 the consensus estimate of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the prior year, the firm posted $1.57 EPS. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Friday, April 17th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Sanford C. Bernstein lowered their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, May 27th. Finally, Benchmark reduced their price objective on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.33.

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.