American Century Companies Inc. Has $125.87 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

American Century Companies Inc. lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 26.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 952,302 shares of the company’s stock after acquiring an additional 198,179 shares during the quarter. American Century Companies Inc. owned approximately 0.07% of PDD worth $125,866,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PDD. Vanguard Group Inc. raised its position in PDD by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock valued at $4,280,289,000 after purchasing an additional 348,997 shares during the last quarter. Norges Bank acquired a new stake in shares of PDD in the second quarter valued at $962,785,000. Sanders Capital LLC raised its holdings in shares of PDD by 21.5% in the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock valued at $892,395,000 after buying an additional 1,508,445 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of PDD by 4.0% in the second quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock valued at $646,764,000 after buying an additional 240,627 shares during the last quarter. Finally, Krane Funds Advisors LLC lifted its position in PDD by 25.5% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock worth $792,431,000 after buying an additional 1,247,634 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Down 1.6%

PDD stock opened at $103.73 on Monday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The company has a market cap of $144.41 billion, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 0.95 and a beta of -0.01. The business’s fifty day moving average is $108.35 and its 200-day moving average is $119.36.

Analyst Ratings Changes

PDD has been the subject of several research reports. Loop Capital set a $170.00 price objective on shares of PDD in a research report on Tuesday, January 6th. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research note on Tuesday, November 18th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Bank of America dropped their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $139.87.

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.