PDD Holdings Inc. Sponsored ADR $PDD Stake Decreased by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd reduced its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 991,509 shares of the company’s stock after selling 43,740 shares during the period. PDD makes up 59.3% of IvyRock Asset Management HK Ltd’s holdings, making the stock its biggest position. IvyRock Asset Management HK Ltd owned 0.07% of PDD worth $112,427,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Prudential PLC raised its stake in PDD by 12.5% during the fourth quarter. Prudential PLC now owns 1,751,095 shares of the company’s stock worth $198,557,000 after purchasing an additional 194,192 shares during the period. OPTIMAS CAPITAL Ltd raised its stake in PDD by 269.5% during the fourth quarter. OPTIMAS CAPITAL Ltd now owns 120,256 shares of the company’s stock worth $13,636,000 after purchasing an additional 87,707 shares during the period. Daiwa Securities Group Inc. raised its stake in PDD by 9.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 76,875 shares of the company’s stock worth $8,717,000 after purchasing an additional 6,590 shares during the period. Cibc World Market Inc. raised its stake in PDD by 110.9% during the fourth quarter. Cibc World Market Inc. now owns 6,615 shares of the company’s stock worth $750,000 after purchasing an additional 3,478 shares during the period. Finally, CIBC Asset Management Inc raised its stake in PDD by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 150,924 shares of the company’s stock worth $17,113,000 after purchasing an additional 8,813 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

PDD stock opened at $85.88 on Friday. The stock’s 50 day simple moving average is $97.55 and its two-hundred day simple moving average is $104.82. The stock has a market cap of $122.24 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 0.80 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $81.56 and a fifty-two week high of $139.41.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.34 earnings per share for the quarter. The business had revenue of $15.41 million for the quarter. PDD had a return on equity of 24.32% and a net margin of 21.86%. On average, analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on PDD shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Citigroup reduced their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. Finally, Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.33.

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.