PDD Holdings Inc. Sponsored ADR $PDD Position Boosted by Capstone Capital Management Ltd

Capstone Capital Management Ltd raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 85.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,868 shares of the company’s stock after buying an additional 19,338 shares during the quarter. PDD accounts for about 4.2% of Capstone Capital Management Ltd’s holdings, making the stock its 4th biggest position. Capstone Capital Management Ltd’s holdings in PDD were worth $4,278,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

PDD has been the topic of several recent research reports. Daiwa Securities Group reaffirmed a “hold” rating and set a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Friday, April 17th. BNP Paribas Exane started coverage on shares of PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price objective for the company. Finally, 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, May 27th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $124.64.

PDD Stock Up 2.7%

Shares of PDD opened at $84.74 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The firm has a market capitalization of $120.62 billion and a price-to-earnings ratio of 9.15. The stock’s 50-day moving average price is $87.69 and its 200 day moving average price is $98.97.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 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 firm had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter in the prior year, the business posted $1.57 EPS. PDD’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

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.