PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lessened its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,445 shares of the company’s stock after selling 10,064 shares during the period. PDD accounts for approximately 2.1% of Platinum Investment Management Ltd.’s portfolio, making the stock its 9th largest position. Platinum Investment Management Ltd.’s holdings in PDD were worth $8,895,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PDD. Norges Bank acquired a new position in PDD in the fourth quarter valued at $1,065,446,000. Assenagon Asset Management S.A. boosted its stake in shares of PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares during the period. Himalaya Capital Management LLC acquired a new stake in shares of PDD during the second quarter worth about $482,273,000. Orbis Allan Gray Ltd boosted its stake in shares of PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after buying an additional 3,250,416 shares during the period. Finally, Aspex Management HK Ltd acquired a new stake in shares of PDD during the third quarter worth about $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Up 0.3%

Shares of NASDAQ:PDD opened at $81.56 on Friday. The company has a market cap of $116.09 billion, a P/E ratio of 8.81, a PEG ratio of 0.85 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 52 week low of $78.87 and a 52 week high of $139.41. The company has a 50-day moving average price of $95.33 and a 200 day moving average price of $103.40.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The firm had revenue of $15.41 billion during 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%. PDD’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PDD. Benchmark decreased their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Sanford C. Bernstein decreased their target price on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Finally, Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average price target of $131.33.

Key Headlines Impacting PDD

Here are the key news stories impacting PDD this week:

• Negative Sentiment: Analysts have turned more cautious on PDD, with one report saying the stock’s modeled fair value was cut from US$148.52 to US$119.85, reflecting worries about heavier investment, softer monetization, and slower order growth. PDD Holdings (PDD) Stock Fair Value Falls After Analysts Cut Targets On Q1 Concerns
• Negative Sentiment: Multiple law firms are continuing securities fraud investigations into PDD Holdings, keeping legal and headline risk elevated for shareholders. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Negative Sentiment: Another legal notice from Frank R. Cruz’s law firm said it is still investigating PDD, adding to concerns about possible federal securities-law violations. Securities Fraud Investigation Into PDD Holdings Inc. (PDD) Continues
• Neutral Sentiment: PDD is drawing unusual investor attention, with Zacks noting heavy web searches and option-market activity, which can signal rising speculation but does not by itself confirm a fundamental change. Investors Heavily Search PDD Holdings Inc. Sponsored ADR (PDD): Here is What You Need to Know
• Neutral Sentiment: Options-trading activity has also picked up around PDD, suggesting traders are positioning for a larger move, but the direction remains unclear. Do Options Traders Know Something About PDD Holdings Stock We Don’t?

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.