Adams Street Partners LLC Takes Position in PDD Holdings Inc. (NASDAQ:PDD)

Adams Street Partners LLC bought a new stake in PDD Holdings Inc. (NASDAQ:PDD) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 310,488 shares of the company’s stock, valued at approximately $41,279,000. PDD comprises approximately 17.0% of Adams Street Partners LLC’s portfolio, making the stock its 3rd largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hhlr Advisors LTD. increased its holdings in PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after purchasing an additional 2,760,100 shares during the period. Acadian Asset Management LLC increased its holdings in PDD by 107.8% during the 2nd quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock valued at $487,984,000 after purchasing an additional 1,904,155 shares during the period. Hsbc Holdings PLC increased its holdings in PDD by 109.7% during the 4th quarter. Hsbc Holdings PLC now owns 2,883,200 shares of the company’s stock valued at $421,842,000 after purchasing an additional 1,507,973 shares during the period. Tairen Capital Ltd increased its holdings in PDD by 188.2% during the 4th quarter. Tairen Capital Ltd now owns 2,263,437 shares of the company’s stock valued at $331,163,000 after purchasing an additional 1,478,149 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in PDD during the 2nd quarter valued at about $176,332,000. Institutional investors own 29.07% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $99.90 on Monday. The business’s fifty day moving average price is $119.97 and its 200-day moving average price is $128.53. The stock has a market capitalization of $137.45 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 0.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to analysts’ expectations of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company’s revenue was up 85.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 EPS. On average, equities analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PDD shares. Jefferies Financial Group reduced their price target on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Barclays reduced their price target on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Benchmark reduced their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Daiwa America upgraded PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $177.78.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.