Evergreen Quality Fund GP Ltd. Acquires 58,962 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Evergreen Quality Fund GP Ltd. raised its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 863,016 shares of the company’s stock after acquiring an additional 58,962 shares during the quarter. PDD makes up 1.9% of Evergreen Quality Fund GP Ltd.’s portfolio, making the stock its 12th largest holding. Evergreen Quality Fund GP Ltd. owned 0.06% of PDD worth $97,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after buying an additional 425,908 shares in the last quarter. Norges Bank purchased a new position in shares of PDD during the 4th quarter valued at about $1,065,446,000. Geode Capital Management LLC lifted its position in shares of PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock valued at $761,720,000 after buying an additional 359,921 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after acquiring an additional 5,070,827 shares during the period. Finally, Krane Funds Advisors LLC raised its stake in PDD by 4.2% during the 4th quarter. Krane Funds Advisors LLC now owns 6,397,960 shares of the company’s stock worth $725,465,000 after acquiring an additional 258,888 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

NASDAQ PDD opened at $79.86 on Thursday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.87 and a 1-year high of $139.41. The business has a 50 day simple moving average of $94.17 and a two-hundred day simple moving average of $102.62. The stock has a market capitalization of $113.67 billion, a PE ratio of 8.62, a P/E/G ratio of 0.65 and a beta of -0.02.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 earnings per share (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 firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same period last year, the company earned $1.57 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Sanford C. Bernstein dropped their price objective on PDD from $132.00 to $110.00 and set a “market perform” rating for the company in a research note on Wednesday, May 27th. Morgan Stanley set a $129.00 price target on PDD in a report on Wednesday, May 27th. Finally, Citigroup dropped their price target on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $128.08.

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.