USS Investment Management Ltd Acquires 322,560 Shares of PDD Holdings Inc. Sponsored ADR $PDD

USS Investment Management Ltd increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 86.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 697,636 shares of the company’s stock after purchasing an additional 322,560 shares during the period. USS Investment Management Ltd owned approximately 0.05% of PDD worth $71,295,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PDD. Norges Bank bought a new position in shares of PDD during the 4th quarter worth approximately $1,065,446,000. Assenagon Asset Management S.A. increased its stake 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 valued at $762,991,000 after acquiring an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC bought a new stake in shares of PDD in the 2nd quarter valued at $482,273,000. Dodge & Cox acquired a new position in shares of PDD during the 4th quarter valued at $503,429,000. Finally, Orbis Allan Gray Ltd lifted its position in shares of 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 during the period. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PDD shares. Citigroup reduced their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Benchmark reduced their target price on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Finally, Sanford C. Bernstein decreased their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.64.

PDD Trading Down 0.3%

PDD opened at $76.28 on Wednesday. The company’s fifty day moving average price is $89.67 and its two-hundred day moving average price is $100.06. PDD Holdings Inc. Sponsored ADR has a 1-year low of $71.94 and a 1-year high of $139.41. The company has a market cap of $108.58 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 0.62 and a beta of -0.02.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 EPS 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 the consensus estimate of $15.92 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 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.