PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Siren L.L.C.

Siren L.L.C. lifted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,401 shares of the company’s stock after buying an additional 20,000 shares during the period. Siren L.L.C.’s holdings in PDD were worth $8,522,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. Binnacle Investments Inc boosted its position in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of PDD by 230.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after purchasing an additional 263 shares during the last quarter. Wexford Capital LP acquired a new position in shares of PDD in 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 shares of PDD in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Down 0.3%

PDD stock opened at $83.30 on Friday. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The firm has a 50-day moving average of $84.68 and a two-hundred day moving average of $96.76. The firm has a market capitalization of $118.57 billion and a PE ratio of 9.00.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share 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 firm had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. During the same period last year, the business earned $1.57 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PDD has been the subject of several recent research reports. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, April 17th. Sanford C. Bernstein dropped their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, May 27th. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Benchmark reduced their price objective on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Finally, Jefferies Financial Group restated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus price target of $124.64.

PDD 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.