Prudential PLC Acquires 194,192 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Prudential PLC lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 12.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,751,095 shares of the company’s stock after acquiring an additional 194,192 shares during the period. PDD makes up approximately 1.6% of Prudential PLC’s portfolio, making the stock its 11th biggest position. Prudential PLC’s holdings in PDD were worth $198,557,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PDD. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 238 shares during the period. Binnacle Investments Inc grew its stake in shares of 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 buying an additional 200 shares during the period. Wexford Capital LP acquired a new position in PDD during the 3rd quarter worth approximately $44,000. Assetmark Inc. raised its stake in PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after buying an additional 305 shares during the period. Finally, Larson Financial Group LLC raised its stake in PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after buying an additional 353 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $85.88 on Friday. The stock has a 50 day moving average price of $97.55 and a two-hundred day moving average price of $104.82. The firm has a market capitalization of $122.24 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.80 and a beta of -0.02. PDD Holdings Inc. Sponsored ADR has a 52 week low of $81.56 and a 52 week high of $139.41.

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

Wall Street Analyst Weigh In

PDD has been the topic of a number of research reports. Citigroup dropped their price target on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $165.00 to $89.00 in a research note on Thursday, May 28th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 price target on PDD in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average price target of $131.33.

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.