Myriad Asset Management Advisors LLC Acquires New Position in PDD Holdings Inc. Sponsored ADR $PDD

Myriad Asset Management Advisors LLC acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,106 shares of the company’s stock, valued at approximately $3,981,000. PDD accounts for 1.2% of Myriad Asset Management Advisors LLC’s portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in PDD by 2.7% in the 4th quarter. Deutsche Bank AG now owns 2,776,077 shares of the company’s stock valued at $314,779,000 after acquiring an additional 72,731 shares during the period. Franklin Resources Inc. grew its holdings in PDD by 17.8% during the 4th quarter. Franklin Resources Inc. now owns 802,538 shares of the company’s stock valued at $91,000,000 after buying an additional 121,206 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in PDD by 3.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 53,219 shares of the company’s stock valued at $6,035,000 after buying an additional 1,764 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in PDD by 4.2% during the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock valued at $725,465,000 after buying an additional 258,888 shares in the last quarter. Finally, Capital International Sarl grew its holdings in PDD by 7.5% during the 4th quarter. Capital International Sarl now owns 27,738 shares of the company’s stock valued at $3,145,000 after buying an additional 1,932 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 0.1%

Shares of NASDAQ PDD opened at $81.82 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $81.00 and a 12 month high of $139.41. The firm has a market capitalization of $116.46 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.85 and a beta of -0.02. The business has a 50-day moving average of $96.15 and a 200-day moving average of $103.78.

PDD (NASDAQ:PDD) last issued its quarterly earnings data 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 business had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same period in the previous year, the firm posted $1.57 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PDD. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Sanford C. Bernstein reduced their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a report on Thursday, May 28th. Citigroup reduced their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a report on Friday, April 17th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.33.

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.