Norges Bank Takes Position in PDD Holdings Inc. Sponsored ADR $PDD

Norges Bank acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,396,292 shares of the company’s stock, valued at approximately $1,065,446,000. Norges Bank owned about 0.67% of PDD at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Eurizon SLJ Capital Ltd bought a new stake in PDD in the 4th quarter worth about $583,000. Belvedere Trading LLC purchased a new position in shares of PDD during the fourth quarter valued at approximately $269,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of PDD during the fourth quarter valued at approximately $10,954,000. Fideuram Asset Management Ireland dac purchased a new position in shares of PDD during the fourth quarter valued at approximately $10,509,000. Finally, Yunqi Capital Ltd raised its holdings in shares of PDD by 27.8% during the fourth quarter. Yunqi Capital Ltd now owns 185,100 shares of the company’s stock valued at $20,988,000 after purchasing an additional 40,300 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD News Roundup

Here are the key news stories impacting PDD this week:

• Positive Sentiment: One commentary piece argued the recent sell-off may be overdone and maintained a bullish view on PDD Holdings, suggesting some investors still see upside after the pullback. PDD Holdings: Unjustified Sell-Off, Strong Buy
• Neutral Sentiment: Benchmark lowered its price target on PDD but kept a buy rating, indicating Wall Street still sees meaningful upside even after trimming expectations. Benchmark price target cut
• Neutral Sentiment: Barclays cut its rating to equal weight and sharply reduced its price target, reflecting a more cautious stance on the stock’s near-term setup. Barclays downgrade
• Negative Sentiment: PDD’s latest quarterly results missed EPS and revenue estimates, even though revenue still rose year over year; investors focused on the miss as a sign growth is becoming harder to sustain. PDD Holdings Q1 Earnings Lag Estimates
• Negative Sentiment: Temu was hit with a €200 million EU fine over compliance issues, adding a fresh regulatory overhang for PDD’s fast-growing international business. Temu Hit With €200 Million EU Fine
• Negative Sentiment: Multiple law firms announced or continued securities-fraud investigations tied to PDD, which can weigh on sentiment and increase headline risk for shareholders. Securities Fraud Investigation Continues

PDD Stock Up 1.7%

PDD stock opened at $84.44 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $81.56 and a twelve month high of $139.41. The stock has a market cap of $120.19 billion, a P/E ratio of 9.12, a PEG ratio of 0.80 and a beta of 0.04. The business’s 50-day moving average price is $98.37 and its 200-day moving average price is $106.39.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.34 earnings per share for the quarter. PDD had a return on equity of 25.04% and a net margin of 21.86%.The firm had revenue of $15.41 million for the quarter. On average, equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein decreased their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday. Citigroup decreased their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark decreased their price objective on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday. Barclays cut PDD from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $165.00 to $89.00 in a research report on Thursday. Finally, Morgan Stanley set a $129.00 target price on PDD in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.33.

PDD 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.