Avenir Tech Ltd Takes $2.30 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Avenir Tech Ltd bought a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,000 shares of the company’s stock, valued at approximately $2,303,000. PDD makes up approximately 0.2% of Avenir Tech Ltd’s investment portfolio, making the stock its 13th largest holding.

A number of other large investors have also added to or reduced their stakes in PDD. Charles Schwab Investment Management Inc. boosted its position in PDD by 7.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 997,419 shares of the company’s stock valued at $118,045,000 after buying an additional 69,631 shares during the last quarter. Nuveen LLC purchased a new stake in shares of PDD during the first quarter worth about $169,035,000. Todd Asset Management LLC lifted its stake in shares of PDD by 16.3% in the first quarter. Todd Asset Management LLC now owns 251,885 shares of the company’s stock worth $29,811,000 after acquiring an additional 35,375 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in PDD by 14.7% in the first quarter. Public Sector Pension Investment Board now owns 322,952 shares of the company’s stock valued at $38,221,000 after purchasing an additional 41,500 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. grew its stake in PDD by 9.0% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 184,281 shares of the company’s stock valued at $21,860,000 after purchasing an additional 15,195 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PDD. Bank of America cut their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Wall Street Zen raised shares of PDD from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Benchmark reissued a “buy” rating and issued a $160.00 target price (up previously from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Finally, Macquarie set a $165.00 target price on shares of PDD and gave the company an “outperform” rating in a research note on Monday, August 25th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $137.50.

PDD Price Performance

PDD stock opened at $117.62 on Tuesday. The stock has a market cap of $163.74 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.39 and a beta of 0.08. The firm’s 50-day simple moving average is $128.08 and its 200 day simple moving average is $118.69. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

PDD Company Profile

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.