Hsbc Holdings PLC Sells 34,831,104 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Hsbc Holdings PLC decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 88.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,683,135 shares of the company’s stock after selling 34,831,104 shares during the quarter. Hsbc Holdings PLC owned 0.34% of PDD worth $531,078,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PDD. Binnacle Investments Inc lifted its position in PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its stake in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Wexford Capital LP bought a new stake in shares of PDD in the 3rd quarter worth $44,000. Smartleaf Asset Management LLC increased its holdings in shares of PDD by 230.7% in the 4th 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of PDD in the fourth quarter worth $44,000. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PDD shares. Sanford C. Bernstein lowered their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, May 27th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Friday, April 17th. Barclays lowered PDD from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $165.00 to $89.00 in a research report on Thursday, May 28th. Citigroup lowered 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. Finally, Benchmark dropped their price target 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. Seven equities 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $128.08.

PDD Price Performance

NASDAQ PDD opened at $79.56 on Friday. The stock’s 50-day moving average price is $93.29 and its 200-day moving average price is $102.20. PDD Holdings Inc. Sponsored ADR has a 52 week low of $78.51 and a 52 week high of $139.41. The company has a market capitalization of $113.25 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 0.63 and a beta of -0.02.

PDD (NASDAQ:PDD) last announced its quarterly earnings data 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 company had revenue of $15.41 billion for 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 quarter last year, the firm posted $1.57 earnings per share. Research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current year.

PDD Company 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.