Freemont Capital Pte Ltd Purchases New Position in PDD Holdings Inc. Sponsored ADR $PDD

Freemont Capital Pte Ltd acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,927 shares of the company’s stock, valued at approximately $1,138,632,000. PDD makes up about 0.0% of Freemont Capital Pte Ltd’s portfolio, making the stock its 4th largest position.

Several other hedge funds also recently made changes to their positions in PDD. Ramsey Quantitative Systems acquired a new stake in shares of PDD during the second quarter worth about $53,000. Wasatch Advisors LP acquired a new stake in shares of PDD in the 2nd quarter valued at about $3,658,000. Handelsbanken Fonder AB boosted its position in shares of PDD by 9.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 415,029 shares of the company’s stock valued at $31,658,000 after purchasing an additional 34,750 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in PDD by 31.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 7,407 shares of the company’s stock worth $565,000 after buying an additional 1,751 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its stake in PDD by 166.7% during the 2nd quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock worth $122,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $88.38 on Monday. The stock has a market capitalization of $125.80 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.72 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a 52-week low of $71.94 and a 52-week high of $139.41. The stock’s 50-day moving average price is $84.51 and its 200 day moving average price is $93.56.

PDD (NASDAQ:PDD) last posted 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 company had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same period in the prior year, the company earned $1.57 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $129.00 price objective on PDD in a research note on Wednesday, May 27th. Daiwa Securities Group restated a “hold” rating and set a $80.00 target price on shares of PDD in a research report on Tuesday, June 23rd. Benchmark cut their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of PDD 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 two have given a Sell rating to the company. According to data from MarketBeat, PDD has a consensus rating of “Hold” and a consensus target price of $124.64.

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.