Himension Capital Singapore PTE. LTD. Buys 18,127 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Himension Capital Singapore PTE. LTD. grew its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 14.2% in the 1st quarter, Holdings Channel reports. The firm owned 145,939 shares of the company’s stock after acquiring an additional 18,127 shares during the quarter. PDD accounts for about 1.1% of Himension Capital Singapore PTE. LTD.’s portfolio, making the stock its 17th largest holding. Himension Capital Singapore PTE. LTD.’s holdings in PDD were worth $14,912,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Focus Partners Wealth boosted its stake in shares of PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC lifted its holdings in PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after buying an additional 395 shares during the period. EverSource Wealth Advisors LLC boosted its position in PDD by 62.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares during the last quarter. Cerity Partners LLC raised its position in shares of PDD by 2.0% in the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after acquiring an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of PDD by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $84.83 on Wednesday. The company’s 50-day moving average is $85.25 and its 200-day moving average is $97.20. The stock has a market capitalization of $120.75 billion and a PE ratio of 9.16. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.41.

PDD (NASDAQ:PDD) last posted its quarterly earnings results 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). The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $1.57 earnings per share. On average, analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PDD. BNP Paribas Exane began coverage on PDD in a research note on Monday, June 15th. They issued an “underperform” rating and a $89.00 price objective on the stock. Morgan Stanley set a $129.00 target price on PDD in a report on Wednesday, May 27th. Benchmark dropped their price target on PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. Barclays cut PDD from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $165.00 to $89.00 in a report on Thursday, May 28th. Finally, Daiwa Securities Group reaffirmed a “hold” rating and set a $80.00 price objective on shares of PDD in a research report on Tuesday, June 23rd. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $124.64.

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.