PDD Holdings Inc. Sponsored ADR $PDD Holdings Decreased by Polen Capital Management LLC

Polen Capital Management LLC trimmed its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 50.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,329 shares of the company’s stock after selling 31,954 shares during the quarter. Polen Capital Management LLC’s holdings in PDD were worth $3,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. Binnacle Investments Inc grew its stake in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Wexford Capital LP bought a new position in PDD during the 3rd quarter worth $44,000. Assetmark Inc. grew its stake in PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after buying an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after buying an additional 353 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

Shares of PDD stock opened at $81.30 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $78.87 and a 1 year high of $139.41. The stock has a fifty day moving average of $95.73 and a two-hundred day moving average of $103.55. The firm has a market capitalization of $115.72 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last announced its quarterly 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 return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same quarter last year, the firm posted $1.57 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Nomura downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup reduced their price target on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. 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 report on Thursday, May 28th. Sanford C. Bernstein reduced their price target on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.33.

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.