PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by KBC Group NV

KBC Group NV increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 101.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 481,118 shares of the company’s stock after buying an additional 241,994 shares during the quarter. KBC Group NV’s holdings in PDD were worth $49,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in PDD. Norges Bank purchased a new stake in PDD in the fourth quarter valued at approximately $1,065,446,000. Assenagon Asset Management S.A. boosted its holdings in shares of 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 acquiring an additional 5,070,827 shares during the period. Himalaya Capital Management LLC purchased a new position in shares of PDD during the second quarter worth approximately $482,273,000. Dodge & Cox purchased a new position in shares of PDD during the fourth quarter worth approximately $503,429,000. Finally, Orbis Allan Gray Ltd increased its holdings in shares of PDD by 135.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after acquiring an additional 3,250,416 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

Shares of NASDAQ PDD opened at $86.05 on Tuesday. The stock has a fifty day moving average price of $85.47 and a 200 day moving average price of $97.40. PDD Holdings Inc. Sponsored ADR has a 1-year low of $71.94 and a 1-year high of $139.41. The company has a market cap of $122.48 billion and a PE ratio of 9.29.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Friday, April 17th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Daiwa Securities Group reiterated a “hold” rating and set a $80.00 target price on shares of PDD in a research note on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $124.64.

About PDD

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.