Nykredit A S Invests $12.39 Million in PDD Holdings Inc. Sponsored ADR $PDD

Nykredit A S acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 162,497 shares of the company’s stock, valued at approximately $12,395,000.

Several other institutional investors have also recently added to or reduced their stakes in PDD. Focus Partners Wealth lifted its position in PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after buying an additional 7,744 shares during the period. Intech Investment Management LLC grew its holdings in PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after buying an additional 395 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of PDD by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares during the last quarter. Cerity Partners LLC increased its stake in shares of PDD by 2.0% during the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after acquiring an additional 382 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of PDD by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after acquiring an additional 369 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

NASDAQ PDD opened at $82.21 on Friday. The firm has a market capitalization of $117.02 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 0.62 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The company’s 50 day moving average price is $85.72 and its 200 day moving average price is $92.32.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share (EPS) for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The company had revenue of $16.54 billion during the quarter. Sell-side analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Zacks Research raised shares of PDD from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $105.00 price target on shares of PDD in a research note on Monday, August 24th. BNP Paribas Exane assumed coverage on shares of PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price target on the stock. Finally, Benchmark dropped their price objective on PDD from $127.00 to $114.00 and set a “buy” rating for the company in a report on Tuesday, August 25th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and a consensus target price of $117.17.

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.