AIA Group Ltd Boosts Position in PDD Holdings Inc. Sponsored ADR $PDD

AIA Group Ltd raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 27.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,358 shares of the company’s stock after acquiring an additional 9,820 shares during the quarter. AIA Group Ltd’s holdings in PDD were worth $4,635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PDD. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC grew its position in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares during the period. Wexford Capital LP bought a new position in PDD in the 3rd quarter worth $44,000. Smartleaf Asset Management LLC lifted its position in PDD by 230.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in PDD during the fourth quarter valued at $44,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the topic of several recent research reports. Daiwa Securities Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of PDD in a research note on Tuesday, June 23rd. Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup dropped their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Barclays downgraded shares of PDD from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Finally, Benchmark cut their price target on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PDD currently has an average rating of “Hold” and a consensus price target of $124.64.

PDD Price Performance

PDD stock opened at $84.14 on Monday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.41. The firm’s 50 day moving average price is $85.72 and its 200-day moving average price is $97.60. The stock has a market cap of $119.76 billion and a P/E ratio of 9.09.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The company 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 business posted $1.57 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 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.