Wasatch Advisors LP Makes New $3.66 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Wasatch Advisors LP purchased a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 47,950 shares of the company’s stock, valued at approximately $3,658,000.

A number of other institutional investors have also modified their holdings of PDD. Norges Bank acquired a new position in PDD during the 4th quarter worth about $1,065,446,000. H&H International Investment LLC boosted its holdings in PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock valued at $2,017,881,000 after acquiring an additional 8,211,600 shares during the period. Himalaya Capital Management LLC acquired a new position in PDD in the 2nd quarter valued at about $482,273,000. Dodge & Cox acquired a new position in PDD in the 4th quarter valued at about $503,429,000. Finally, Orbis Allan Gray Ltd increased its stake in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after purchasing an additional 3,250,416 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the topic of several research reports. Arete Research raised shares of 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. Zacks Research cut shares of PDD from a “hold” rating to a “strong sell” rating in a report on Monday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Benchmark reduced their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $124.64.

PDD Price Performance

PDD opened at $89.04 on Thursday. The business has a fifty day moving average price of $83.89 and a 200 day moving average price of $94.40. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The stock has a market capitalization of $126.74 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 0.74 and a beta of 0.02.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 21.86% and a return on equity of 24.32%. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.57 EPS. On average, research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current year.

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.