MY.Alpha Management HK Advisors Ltd Acquires Shares of 145,263 PDD Holdings Inc. Sponsored ADR $PDD

MY.Alpha Management HK Advisors Ltd acquired a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 145,263 shares of the company’s stock, valued at approximately $16,471,000. PDD accounts for about 8.8% of MY.Alpha Management HK Advisors Ltd’s portfolio, making the stock its 6th largest holding.

Several other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its position in PDD by 11.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after purchasing an additional 25,369 shares in the last quarter. Step Capital Management Pte. Ltd. acquired a new stake in PDD in the fourth quarter valued at approximately $8,504,000. LBP AM SA purchased a new stake in shares of PDD in the fourth quarter valued at approximately $6,690,000. Triata Capital Ltd increased its position in shares of PDD by 55.7% in the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock valued at $336,304,000 after buying an additional 910,150 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of PDD during the 3rd quarter worth approximately $419,287,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD opened at $79.56 on Friday. The company’s 50-day simple moving average is $93.29 and its 200-day simple moving average is $102.20. PDD Holdings Inc. Sponsored ADR has a 1 year low of $78.51 and a 1 year high of $139.41. The stock has a market capitalization of $113.25 billion, a PE ratio of 8.59, a P/E/G 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 for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. During the same quarter last year, the firm posted $1.57 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current year.

Analysts Set New Price Targets

PDD has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. BNP Paribas Exane assumed coverage on shares of PDD in a research report on Monday. They set an “underperform” rating and a $89.00 price target for the company. Sanford C. Bernstein decreased their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. Benchmark lowered their price target on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Finally, Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $128.08.

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.