Polar Capital Holdings Plc Has $65.47 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Polar Capital Holdings Plc raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 577,391 shares of the company’s stock after purchasing an additional 21,493 shares during the period. Polar Capital Holdings Plc’s holdings in PDD were worth $65,470,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PDD. Norges Bank bought a new position in shares of PDD during the fourth quarter worth $1,065,446,000. Assenagon Asset Management S.A. raised its stake in PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares during the period. Himalaya Capital Management LLC acquired a new stake in PDD during the 2nd quarter worth $482,273,000. Dodge & Cox bought a new position in PDD during the fourth quarter worth about $503,429,000. Finally, Orbis Allan Gray Ltd lifted its holdings 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 acquiring an additional 3,250,416 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. 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. Morgan Stanley set a $129.00 price objective on PDD in a report on Wednesday, May 27th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday, April 17th. Finally, Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PDD presently has an average rating of “Hold” and an average target price of $128.08.

PDD Price Performance

PDD opened at $81.59 on Wednesday. The company has a market capitalization of $116.14 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 0.87 and a beta of -0.02. The business’s 50-day moving average price is $94.60 and its two-hundred day moving average price is $102.87. PDD Holdings Inc. Sponsored ADR has a 1 year low of $78.87 and a 1 year high of $139.41.

PDD (NASDAQ:PDD) last posted 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). The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.57 earnings per share. Sell-side analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

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.