Krane Funds Advisors LLC Acquires 258,888 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Krane Funds Advisors LLC increased 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 disclosure with the SEC. The institutional investor owned 6,397,960 shares of the company’s stock after acquiring an additional 258,888 shares during the quarter. PDD makes up 23.5% of Krane Funds Advisors LLC’s portfolio, making the stock its biggest position. Krane Funds Advisors LLC owned 0.46% of PDD worth $725,465,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PDD. Norges Bank acquired a new position in shares of PDD in the fourth quarter worth about $1,065,446,000. Assenagon Asset Management S.A. lifted its stake in shares of PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after acquiring an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in shares of PDD in the second quarter worth about $482,273,000. Orbis Allan Gray Ltd lifted its stake in shares of PDD by 135.6% in the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after acquiring an additional 3,250,416 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of PDD in the third quarter worth about $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PDD. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Benchmark cut 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. Morgan Stanley set a $129.00 price objective on PDD in a research note on Wednesday, May 27th. Jefferies Financial Group restated a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Barclays cut PDD from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.

PDD Price Performance

Shares of NASDAQ PDD opened at $85.07 on Monday. The stock’s 50 day moving average price is $97.20 and its two-hundred day moving average price is $104.51. PDD Holdings Inc. Sponsored ADR has a 52-week low of $81.56 and a 52-week high of $139.41. The stock has a market capitalization of $121.09 billion, a P/E ratio of 9.19, a PEG ratio of 0.80 and a beta of -0.02.

PDD (NASDAQ:PDD) last posted its earnings results on Friday, May 15th. The company reported $0.34 EPS for the quarter. The company 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, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.98 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.