OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 15,694 Shares of PDD Holdings Inc. Sponsored ADR $PDD

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 33.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,107 shares of the company’s stock after selling 15,694 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PDD were worth $3,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisory Services Network LLC boosted its position in shares of PDD by 0.7% in the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after purchasing an additional 102 shares during the last quarter. West Family Investments Inc. boosted its position in shares of PDD by 2.8% in the 3rd quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock worth $532,000 after purchasing an additional 110 shares during the last quarter. Range Financial Group LLC boosted its position in shares of 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 during the last quarter. Focus Partners Wealth boosted its position in shares of 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 during the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of 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 purchasing an additional 151 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Morgan Stanley set a $129.00 price target on PDD in a research report on Wednesday, May 27th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Sanford C. Bernstein reduced their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday, April 17th. Finally, Citigroup reduced their target price on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PDD has a consensus rating of “Hold” and an average target price of $131.33.

PDD Trading Up 2.4%

PDD stock opened at $83.55 on Tuesday. The business’s 50-day moving average price is $94.98 and its two-hundred day moving average price is $103.11. The firm has a market cap of $118.93 billion, a PE ratio of 9.02, a P/E/G ratio of 0.85 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.87 and a 1-year high of $139.41.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share 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 the consensus estimate of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.57 earnings per share. On average, analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current 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.