PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,650 shares of the company’s stock after selling 11,166 shares during the quarter. TD Asset Management Inc’s holdings in PDD were worth $9,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDD. Vanguard Group Inc. grew its position in PDD by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock valued at $3,720,397,000 after acquiring an additional 425,908 shares during the period. Norges Bank purchased a new stake in shares of PDD during the 4th quarter worth about $1,065,446,000. Geode Capital Management LLC increased its position in PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after purchasing an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after buying an additional 5,070,827 shares during the period. Finally, First Beijing Investment Ltd lifted its position in PDD by 10.6% during the third quarter. First Beijing Investment Ltd now owns 6,168,721 shares of the company’s stock valued at $815,320,000 after buying an additional 590,869 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $81.93 on Wednesday. The firm’s fifty day moving average price is $96.48 and its 200 day moving average price is $104.00. The company has a market capitalization of $116.62 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 0.86 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 12-month low of $81.56 and a 12-month high of $139.41.

PDD (NASDAQ:PDD) last announced its 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). 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 analysts’ expectations of $15.92 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays lowered shares of PDD from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Sanford C. Bernstein lowered their price target on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, May 27th. Benchmark reduced their price objective on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.33.

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.