Mediolanum International Funds Ltd Buys Shares of 65,218 PDD Holdings Inc. Sponsored ADR $PDD

Mediolanum International Funds Ltd purchased a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 65,218 shares of the company’s stock, valued at approximately $6,419,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after acquiring an additional 238 shares during the last quarter. Binnacle Investments Inc increased its position in PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC raised its stake in PDD by 230.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares during the last quarter. Wexford Capital LP bought a new stake in PDD in the 3rd quarter valued at $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of PDD during the fourth quarter valued at about $44,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 2.3%

NASDAQ PDD opened at $86.05 on Tuesday. The stock has a market cap of $122.48 billion and a P/E ratio of 9.29. The company’s 50-day simple moving average is $85.47 and its 200 day simple moving average is $97.40. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41.

PDD (NASDAQ:PDD) last announced its quarterly earnings results 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 the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS. 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

Several equities analysts recently issued reports on the company. Sanford C. Bernstein lowered their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley set a $129.00 price objective on PDD in a research report on Wednesday, May 27th. Benchmark decreased their price objective on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. BNP Paribas Exane started coverage on PDD in a research report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective on the stock. Finally, Nomura lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.