Virtu Financial LLC Purchases Shares of 18,338 PDD Holdings Inc. Sponsored ADR $PDD

Virtu Financial LLC purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,338 shares of the company’s stock, valued at approximately $2,079,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in PDD by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after purchasing an additional 425,908 shares in the last quarter. Norges Bank acquired a new position in PDD in the 4th quarter valued at about $1,065,446,000. Geode Capital Management LLC lifted its holdings in PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after purchasing an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after purchasing an additional 5,070,827 shares in the last quarter. Finally, Krane Funds Advisors LLC lifted its holdings in PDD by 4.2% in the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock valued at $725,465,000 after purchasing an additional 258,888 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PDD shares. Benchmark lowered their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Finally, Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PDD currently has an average rating of “Hold” and a consensus price target of $128.08.

PDD Price Performance

Shares of PDD stock opened at $79.56 on Friday. The firm’s 50-day simple moving average is $93.29 and its 200-day simple moving average is $102.20. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.51 and a 1-year high of $139.41. The firm has a market cap of $113.25 billion, a P/E ratio of 8.59, a PEG ratio of 0.63 and a beta of -0.02.

PDD (NASDAQ:PDD) last released 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). PDD had a net margin of 21.86% and a return on equity of 24.32%. The company had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. PDD’s revenue for the quarter was up 11.0% compared to the same quarter last year. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal 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.