Janney Montgomery Scott LLC Invests $6.78 Million in PDD Holdings Inc. Sponsored ADR $PDD

Janney Montgomery Scott LLC acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 66,375 shares of the company’s stock, valued at approximately $6,782,000.

Several other institutional investors have also recently added to or reduced their stakes in PDD. GAMMA Investing LLC boosted its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Binnacle Investments Inc grew its holdings in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after acquiring an additional 263 shares during the last quarter. Wexford Capital LP acquired a new position in shares of PDD during the 3rd quarter valued at about $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD during the 4th quarter worth about $44,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

PDD stock opened at $82.39 on Friday. The stock’s 50-day moving average is $88.55 and its 200-day moving average is $99.53. The company has a market cap of $117.27 billion and a price-to-earnings ratio of 8.90. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41.

PDD (NASDAQ:PDD) last issued 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). The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.57 EPS. Research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PDD shares. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. BNP Paribas Exane began coverage on shares of PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 price target for the company. Morgan Stanley set a $129.00 price target on shares of PDD in a research note on Wednesday, May 27th. Daiwa Securities Group reiterated a “hold” rating and issued a $80.00 price target on shares of PDD in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research note 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $124.64.

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.