PDD Holdings Inc. Sponsored ADR $PDD is True Light Capital Pte. Ltd.’s Largest Position

True Light Capital Pte. Ltd. grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 626,300 shares of the company’s stock after buying an additional 24,038 shares during the period. PDD makes up 32.3% of True Light Capital Pte. Ltd.’s holdings, making the stock its biggest holding. True Light Capital Pte. Ltd.’s holdings in PDD were worth $63,995,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Advisory Services Network LLC increased its holdings in shares of PDD by 0.7% during the third quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock valued at $2,043,000 after acquiring an additional 102 shares in the last quarter. Range Financial Group LLC boosted its stake in PDD by 3.8% in the 4th quarter. Range Financial Group LLC now owns 3,620 shares of the company’s stock worth $410,000 after purchasing an additional 131 shares in the last quarter. Focus Partners Wealth boosted its stake in PDD by 1.0% in the 4th quarter. Focus Partners Wealth now owns 13,886 shares of the company’s stock worth $1,512,000 after purchasing an additional 142 shares in the last quarter. Fifth Third Bancorp grew its position in PDD by 4.3% during the 4th quarter. Fifth Third Bancorp now owns 3,649 shares of the company’s stock worth $414,000 after purchasing an additional 151 shares during the last quarter. Finally, Mariner LLC grew its position in PDD by 0.8% during the 4th quarter. Mariner LLC now owns 22,092 shares of the company’s stock worth $2,506,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PDD shares. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Sanford C. Bernstein dropped their price objective on shares of PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, May 27th. Benchmark cut their target price on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, May 28th. Finally, Morgan Stanley set a $129.00 target price on PDD in a research note 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 MarketBeat, PDD presently has a consensus rating of “Hold” and a consensus price target of $124.64.

PDD Trading Down 0.8%

Shares of NASDAQ:PDD opened at $83.91 on Wednesday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The company has a market cap of $119.44 billion and a PE ratio of 9.06. The company’s 50 day moving average is $86.64 and its 200 day moving average is $98.21.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate 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 net margin of 21.86% and a return on equity of 24.32%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 earnings per share. Equities research analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share 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.