Ardmore Road Asset Management LP Takes $15.63 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Ardmore Road Asset Management LP acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 153,000 shares of the company’s stock, valued at approximately $15,634,000.

Other large investors also recently bought and sold shares of the company. LBP AM SA bought a new position in PDD in the fourth quarter worth about $6,690,000. Step Capital Management Pte. Ltd. bought a new stake in shares of PDD in the 4th quarter valued at about $8,504,000. Geode Capital Management LLC grew its position in shares of PDD by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after buying an additional 359,921 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. grew its position in shares of PDD by 125.4% in the 4th quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company’s stock worth $7,361,000 after buying an additional 36,122 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of PDD by 10.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,785,936 shares of the company’s stock worth $202,507,000 after acquiring an additional 173,068 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ:PDD opened at $82.66 on Monday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The company has a market cap of $117.66 billion and a PE ratio of 8.93. The company’s 50 day moving average is $84.42 and its two-hundred day moving average is $96.51.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 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 company had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.92 billion. During the same quarter in the previous year, the firm posted $1.57 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PDD shares. Morgan Stanley set a $129.00 target price on shares of PDD in a research report on Wednesday, May 27th. Nomura lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Sanford C. Bernstein reduced their price target on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group reiterated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Finally, Benchmark lowered their price objective on PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average 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.