WCM Investment Management LLC Has $33.64 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

WCM Investment Management LLC increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 49.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 341,815 shares of the company’s stock after acquiring an additional 113,300 shares during the period. WCM Investment Management LLC’s holdings in PDD were worth $33,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares in the last quarter. Binnacle Investments Inc raised its holdings in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock worth $43,000 after purchasing an additional 263 shares in the last quarter. Wexford Capital LP bought a new stake in shares of PDD in the third quarter worth $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in PDD during the fourth quarter worth $44,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

Shares of NASDAQ:PDD opened at $84.14 on Monday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $71.94 and a 12-month high of $139.41. The business has a 50 day moving average of $85.72 and a 200-day moving average of $97.60. The stock has a market cap of $119.76 billion and a PE ratio of 9.09.

PDD (NASDAQ:PDD) last announced its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The business had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 EPS. Equities research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on PDD shares. Sanford C. Bernstein lowered their target price 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. Benchmark dropped their price objective on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Arete Research upgraded shares of 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. Morgan Stanley set a $129.00 price objective on shares of PDD in a research report on Wednesday, May 27th. Finally, Daiwa Securities Group reiterated a “hold” rating and issued a $80.00 target price on shares of PDD in a research note on Tuesday, June 23rd. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $124.64.

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.