PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Kepler Cheuvreux Suisse SA

Kepler Cheuvreux Suisse SA reduced its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 46.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,882 shares of the company’s stock after selling 13,125 shares during the quarter. Kepler Cheuvreux Suisse SA’s holdings in PDD were worth $1,521,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its stake in PDD by 11.7% in the 4th 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. purchased a new position in shares of PDD during the fourth quarter worth $8,504,000. LBP AM SA purchased a new position in shares of PDD during the fourth quarter worth $6,690,000. Triata Capital Ltd lifted its position in PDD by 55.7% during the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock valued at $336,304,000 after purchasing an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd acquired a new position in PDD during the third quarter valued at $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $82.39 on Friday. The firm has a 50-day simple moving average of $88.55 and a two-hundred day simple moving average of $99.53. The company has a market cap of $117.27 billion and a P/E ratio of 8.90. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $71.94 and a fifty-two week high of $139.41.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same period in the previous year, the company earned $1.57 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current year.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of recent research reports. Citigroup decreased their price objective on PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. BNP Paribas Exane began coverage on PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 target price on the stock. Morgan Stanley set a $129.00 target price on PDD in a report on Wednesday, May 27th. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Finally, Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $165.00 to $89.00 in a report on Thursday, May 28th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus price target of $124.64.

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.