PDD Holdings Inc. Sponsored ADR $PDD Stake Lifted by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd lifted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,926,061 shares of the company’s stock after acquiring an additional 243,167 shares during the quarter. PDD comprises about 1.7% of Temasek Holdings Private Ltd’s investment portfolio, making the stock its 13th biggest holding. Temasek Holdings Private Ltd owned 0.35% of PDD worth $503,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PDD. Norges Bank acquired a new stake in PDD in the fourth quarter worth approximately $1,065,446,000. Assenagon Asset Management S.A. increased its position in shares of PDD by 305.8% during 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 during the period. Himalaya Capital Management LLC acquired a new position in shares of PDD during the 2nd quarter valued at $482,273,000. Dodge & Cox bought a new stake in shares of PDD in the 4th quarter worth $503,429,000. Finally, Orbis Allan Gray Ltd raised its stake 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 worth $591,091,000 after buying an additional 3,250,416 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Down 1.4%

Shares of PDD stock opened at $84.83 on Wednesday. The company has a market capitalization of $120.75 billion and a price-to-earnings ratio of 9.16. PDD Holdings Inc. Sponsored ADR has a 1-year low of $71.94 and a 1-year high of $139.41. The stock’s fifty day simple moving average is $85.25 and its 200-day simple moving average is $97.20.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PDD shares. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Friday, April 17th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. Citigroup dropped their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Finally, Nomura lowered shares of 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, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PDD presently 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.