PDD Holdings Inc. Sponsored ADR $PDD is Perseverance Asset Management International’s Largest Position

Perseverance Asset Management International grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,161,676 shares of the company’s stock after buying an additional 199,584 shares during the quarter. PDD makes up 24.3% of Perseverance Asset Management International’s holdings, making the stock its biggest holding. Perseverance Asset Management International’s holdings in PDD were worth $220,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Binnacle Investments Inc grew its stake in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC lifted its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares in the last quarter. Wexford Capital LP purchased a new position in PDD in the 3rd quarter worth approximately $44,000. Smartleaf Asset Management LLC boosted its holdings in shares of PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after purchasing an additional 263 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of PDD during the 4th quarter worth approximately $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD stock opened at $83.30 on Friday. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The firm has a market cap of $118.57 billion and a PE ratio of 9.00. The firm’s 50 day moving average price is $84.68 and its 200-day moving average price is $96.76.

PDD (NASDAQ:PDD) last issued 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 during the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on PDD shares. Barclays cut PDD from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on PDD in a research note on Wednesday, May 27th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a report on Friday, April 17th. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Sanford C. Bernstein reduced 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. Seven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PDD presently has an average rating of “Hold” and a consensus price target of $124.64.

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.