Anatole Investment Management Ltd Makes New $94.96 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Anatole Investment Management Ltd acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 4th quarter, Holdings Channel.com reports. The firm acquired 837,433 shares of the company’s stock, valued at approximately $94,957,000. PDD comprises about 15.7% of Anatole Investment Management Ltd’s investment portfolio, making the stock its 3rd biggest position.

Several other hedge funds have also recently bought and sold shares of the stock. Guggenheim Capital LLC lifted its position in PDD by 3.0% during the fourth quarter. Guggenheim Capital LLC now owns 159,549 shares of the company’s stock worth $18,091,000 after acquiring an additional 4,653 shares during the last quarter. FACT Capital LP lifted its position in PDD by 20.1% during the fourth quarter. FACT Capital LP now owns 73,156 shares of the company’s stock worth $8,295,000 after acquiring an additional 12,230 shares during the last quarter. DV Equities LLC acquired a new stake in PDD during the fourth quarter worth approximately $108,000. EFG International AG acquired a new stake in shares of PDD in the fourth quarter valued at approximately $1,362,000. Finally, Lazard Asset Management LLC raised its position in shares of PDD by 9.3% in the fourth quarter. Lazard Asset Management LLC now owns 784,898 shares of the company’s stock valued at $89,000,000 after buying an additional 66,942 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on PDD. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Citigroup dropped their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Benchmark dropped their price target 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. Sanford C. Bernstein dropped their price target on shares of PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, May 27th. Finally, Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus price target of $128.08.

PDD Price Performance

Shares of PDD opened at $79.86 on Thursday. PDD Holdings Inc. Sponsored ADR has a one year low of $78.87 and a one year high of $139.41. The company has a market cap of $113.67 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.65 and a beta of -0.02. The firm has a 50 day simple moving average of $94.17 and a two-hundred day simple moving average of $102.62.

PDD (NASDAQ:PDD) last announced 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 net margin of 21.86% and a return on equity of 24.32%. The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the prior year, the firm earned $1.57 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

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.