PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Barings LLC

Barings LLC raised its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 21.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 654,567 shares of the company’s stock after purchasing an additional 115,567 shares during the period. PDD accounts for approximately 1.4% of Barings LLC’s investment portfolio, making the stock its 11th largest holding. Barings LLC’s holdings in PDD were worth $74,221,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PDD. Exchange Traded Concepts LLC increased its stake in PDD by 11.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after acquiring an additional 25,369 shares during the last quarter. Step Capital Management Pte. Ltd. acquired a new stake in shares of PDD during the fourth quarter valued at about $8,504,000. LBP AM SA acquired a new stake in shares of PDD during the fourth quarter valued at about $6,690,000. Triata Capital Ltd increased its stake in shares of PDD by 55.7% in the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock worth $336,304,000 after buying an additional 910,150 shares during the last quarter. Finally, Aspex Management HK Ltd bought a new stake in shares of PDD in the third quarter worth $419,287,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PDD shares. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Benchmark reduced their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Sanford C. Bernstein cut their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, May 27th. Morgan Stanley set a $129.00 target price on PDD in a report on Wednesday, May 27th. Finally, Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.33.

PDD Stock Performance

PDD opened at $81.30 on Friday. The business has a 50 day moving average price of $95.73 and a 200 day moving average price of $103.55. PDD Holdings Inc. Sponsored ADR has a twelve month low of $78.87 and a twelve month high of $139.41. The firm has a market cap of $115.72 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02.

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

PDD Company 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.