Union Bancaire Privee UBP SA Acquires 22,531 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Union Bancaire Privee UBP SA boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 25.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,760 shares of the company’s stock after buying an additional 22,531 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in PDD were worth $11,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Focus Partners Wealth raised its stake 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 acquiring an additional 7,744 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of 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 purchasing an additional 395 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 637 shares during the last quarter. Cerity Partners LLC increased its position in PDD by 2.0% during the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after purchasing an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in 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 purchasing an additional 369 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PDD shares. Benchmark dropped their price objective on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Friday, April 17th. Sanford C. Bernstein lowered their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, May 27th. Barclays cut PDD from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.64.

PDD Stock Up 4.4%

NASDAQ PDD opened at $76.55 on Friday. The company has a market capitalization of $108.96 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.60 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The stock has a fifty day simple moving average of $90.78 and a 200 day simple moving average of $100.74.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 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.