Y Intercept Hong Kong Ltd Invests $4.95 Million in PDD Holdings Inc. Sponsored ADR $PDD

Y Intercept Hong Kong Ltd purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 48,419 shares of the company’s stock, valued at approximately $4,947,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PDD. GAMMA Investing LLC grew its holdings in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Binnacle Investments Inc grew its stake 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 acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after acquiring an additional 263 shares in the last quarter. Wexford Capital LP bought a new stake in PDD during the 3rd quarter worth approximately $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in PDD during the 4th quarter worth approximately $44,000. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PDD. BNP Paribas Exane began coverage on shares of PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 price target for the company. Citigroup lowered their price objective on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Barclays cut PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Finally, Daiwa Securities Group restated a “hold” rating and issued 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 given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $124.64.

PDD Stock Performance

NASDAQ PDD opened at $82.39 on Monday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.41. The company has a market capitalization of $117.27 billion and a P/E ratio of 8.90. The company has a fifty day moving average of $88.55 and a 200-day moving average of $99.45.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The firm had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.57 EPS. As a group, analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS 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.