Krane Funds Advisors LLC Has $725.47 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

Krane Funds Advisors LLC grew its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 6,397,960 shares of the company’s stock after acquiring an additional 258,888 shares during the quarter. PDD comprises approximately 23.5% of Krane Funds Advisors LLC’s holdings, making the stock its biggest position. Krane Funds Advisors LLC’s holdings in PDD were worth $725,465,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Advisory Services Network LLC grew 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 purchasing an additional 102 shares during the last quarter. West Family Investments Inc. grew its holdings in shares of PDD by 2.8% during the third quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after purchasing an additional 110 shares during the last quarter. Range Financial Group LLC grew its holdings 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 buying an additional 131 shares in the last quarter. Savant Capital LLC grew its holdings in PDD by 5.2% in the 3rd quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock worth $407,000 after buying an additional 151 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in PDD by 4.3% in the 4th quarter. Fifth Third Bancorp now owns 3,649 shares of the company’s stock worth $414,000 after buying an additional 151 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Benchmark decreased their price objective on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Friday, April 17th. Sanford C. Bernstein decreased their price objective on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a report on Wednesday, May 27th. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a report on Thursday, May 28th. Finally, Citigroup decreased their price objective on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.33.

PDD Price Performance

Shares of PDD stock opened at $85.07 on Monday. The firm has a market capitalization of $121.09 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.80 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 12-month low of $81.56 and a 12-month high of $139.41. The business has a 50 day simple moving average of $97.20 and a 200 day simple moving average of $104.51.

PDD (NASDAQ:PDD) last released its earnings results on Friday, May 15th. The company reported $0.34 earnings per share for the quarter. The firm had revenue of $15.41 million during the quarter. PDD had a return on equity of 24.32% and a net margin of 21.86%. On average, equities analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.98 EPS for the current fiscal year.

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.