Asset Management One Co. Ltd. Grows Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Asset Management One Co. Ltd. increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,908 shares of the company’s stock after purchasing an additional 4,766 shares during the quarter. Asset Management One Co. Ltd.’s holdings in PDD were worth $16,509,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of PDD by 10.2% during the second quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock worth $3,352,859,000 after buying an additional 2,956,249 shares in the last quarter. Norges Bank acquired a new stake in PDD in the second quarter valued at approximately $962,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in PDD by 899.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock worth $1,063,489,000 after acquiring an additional 8,086,620 shares during the last quarter. Sanders Capital LLC lifted its stake in PDD by 21.5% in the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after acquiring an additional 1,508,445 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in PDD by 53.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock worth $773,878,000 after acquiring an additional 2,573,065 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $122.66 on Wednesday. The company has a fifty day moving average of $120.25 and a two-hundred day moving average of $120.27. The company has a market capitalization of $170.76 billion, a PE ratio of 12.80, a P/E/G ratio of 1.11 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PDD shares. Arete cut shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 price objective for the company. in a research report on Tuesday, December 9th. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Sanford C. Bernstein set a $135.00 price objective on PDD in a report on Tuesday, November 18th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $138.67.

PDD 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.