PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.9% in the 1st quarter, Holdings Channel reports. The firm owned 593,182 shares of the company’s stock after buying an additional 143,496 shares during the period. Sei Investments Co.’s holdings in PDD were worth $60,611,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC grew its position 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 purchasing an additional 238 shares during the last quarter. Wexford Capital LP acquired a new position in PDD in the third quarter valued at $44,000. Smartleaf Asset Management LLC raised its holdings in shares of PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after buying an additional 263 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of PDD during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD opened at $82.66 on Friday. The company has a market cap of $117.66 billion and a price-to-earnings ratio of 8.93. PDD Holdings Inc. Sponsored ADR has a one year low of $71.94 and a one year high of $139.41. The business’s fifty day moving average is $84.42 and its two-hundred day moving average is $96.67.

PDD (NASDAQ:PDD) last released 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). PDD had a return on equity of 24.32% and a net margin of 21.86%.The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the prior year, the firm earned $1.57 earnings per share. PDD’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PDD. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Benchmark cut their price objective on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Finally, Barclays cut PDD from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and an average price target of $124.64.

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.