PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by National Pension Service

National Pension Service trimmed its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 8.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,375 shares of the company’s stock after selling 18,780 shares during the period. National Pension Service’s holdings in PDD were worth $14,598,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of PDD by 5,977.1% in the second quarter. California State Teachers Retirement System now owns 22,016,773 shares of the company’s stock valued at $1,679,439,000 after buying an additional 21,654,483 shares in the last quarter. H&H International Investment LLC boosted its stake in shares of PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after acquiring an additional 8,211,600 shares in the last quarter. Norges Bank bought a new stake in shares of PDD during the 4th quarter worth $1,065,446,000. Geode Capital Management LLC grew its holdings in shares of PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after acquiring an additional 359,921 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its holdings in shares of PDD by 4.2% in the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock worth $725,465,000 after acquiring an additional 258,888 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 0.0%

Shares of NASDAQ:PDD opened at $77.81 on Friday. The company’s fifty day moving average is $85.65 and its two-hundred day moving average is $91.51. The company has a market cap of $110.75 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 0.59 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41.

PDD (NASDAQ:PDD) last issued its earnings results on Friday, August 14th. The company reported $2.84 EPS for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%.The business had revenue of $16.54 billion during the quarter. Equities research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.5 earnings per share for the current year.

Analyst Ratings Changes

PDD has been the subject of several analyst reports. Citigroup reduced their target price on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $105.00 price target on shares of PDD in a research note on Monday, August 24th. Jefferies Financial Group restated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. BNP Paribas Exane began coverage on shares of PDD in a research note on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective for the company. Finally, Zacks Research upgraded shares of PDD from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.31.

PDD Profile

PDD Holdings Inc is a multinational commerce group that operates technology platforms connecting consumers, merchants, producers and suppliers. The company’s businesses focus on online retail, agricultural commerce and value-oriented shopping experiences, using interactive features, data and consumer demand to support transactions and product discovery.

Its flagship platform, Pinduoduo, serves consumers in China and offers a broad selection of products, including agricultural goods, groceries, household items, apparel, electronics and other consumer merchandise.