Asset Management One Co. Ltd. Sells 6,399 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Asset Management One Co. Ltd. decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,509 shares of the company’s stock after selling 6,399 shares during the period. Asset Management One Co. Ltd.’s holdings in PDD were worth $13,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. TB Alternative Assets Ltd. grew its holdings in shares of PDD by 62.5% in the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock worth $45,716,000 after purchasing an additional 133,000 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock worth $48,694,000 after acquiring an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in PDD in the third quarter worth about $2,790,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in PDD by 4.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company’s stock worth $227,271,000 after acquiring an additional 74,225 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in PDD by 11.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after acquiring an additional 25,369 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a research note on Friday, March 27th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Morgan Stanley set a $148.00 target price on PDD in a research report on Thursday, January 15th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, PDD presently has an average rating of “Hold” and an average price target of $139.67.

PDD Trading Down 0.6%

PDD opened at $104.20 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $92.68 and a 12-month high of $139.41. The firm has a market capitalization of $145.06 billion, a PE ratio of 11.09, a P/E/G ratio of 0.99 and a beta of 0.07. The firm has a 50 day moving average of $102.00 and a two-hundred day moving average of $113.13.

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.