Pinpoint Asset Management Singapore Pte. Ltd. Has $70.96 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Pinpoint Asset Management Singapore Pte. Ltd. reduced its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 97.1% in the 4th quarter, Holdings Channel reports. The firm owned 625,807 shares of the company’s stock after selling 21,320,306 shares during the quarter. PDD comprises approximately 14.8% of Pinpoint Asset Management Singapore Pte. Ltd.’s investment portfolio, making the stock its 2nd biggest position. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in PDD were worth $70,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its holdings in shares of PDD by 11.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock valued at $27,522,000 after acquiring an additional 25,369 shares during the period. Step Capital Management Pte. Ltd. bought a new position in shares of PDD during the fourth quarter valued at $8,504,000. LBP AM SA bought a new position in shares of PDD during the fourth quarter valued at $6,690,000. Triata Capital Ltd lifted its holdings in shares of PDD by 55.7% during the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock valued at $336,304,000 after acquiring an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd bought a new position in shares of PDD during the third quarter valued at $419,287,000. 39.83% of the stock is owned by institutional investors.

Key Headlines Impacting PDD

Here are the key news stories impacting PDD this week:

• Negative Sentiment: Analysts have turned more cautious on PDD, with one report saying the stock’s modeled fair value was cut from US$148.52 to US$119.85, reflecting worries about heavier investment, softer monetization, and slower order growth. PDD Holdings (PDD) Stock Fair Value Falls After Analysts Cut Targets On Q1 Concerns
• Negative Sentiment: Multiple law firms are continuing securities fraud investigations into PDD Holdings, keeping legal and headline risk elevated for shareholders. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Negative Sentiment: Another legal notice from Frank R. Cruz’s law firm said it is still investigating PDD, adding to concerns about possible federal securities-law violations. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Neutral Sentiment: PDD is drawing unusual investor attention, with Zacks noting heavy web searches and option-market activity, which can signal rising speculation but does not by itself confirm a fundamental change. Investors Heavily Search PDD Holdings Inc. Sponsored ADR (PDD): Here is What You Need to Know
• Neutral Sentiment: Options-trading activity has also picked up around PDD, suggesting traders are positioning for a larger move, but the direction remains unclear. Do Options Traders Know Something About PDD Holdings Stock We Don’t?

PDD Stock Performance

Shares of NASDAQ:PDD opened at $81.56 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $78.87 and a twelve month high of $139.41. The firm has a market cap of $116.09 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02. The business has a fifty day moving average of $95.33 and a 200-day moving average of $103.40.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter last year, the business posted $1.57 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PDD shares. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 target price on PDD in a research note on Wednesday, May 27th. Sanford C. Bernstein lowered their target price on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Finally, Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.33.

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.