PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 47.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,900 shares of the company’s stock after purchasing an additional 5,795 shares during the quarter. AE Wealth Management LLC’s holdings in PDD were worth $2,030,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PDD. Mirae Asset Global Investments Co. Ltd. raised its stake in PDD by 4.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 364,337 shares of the company’s stock valued at $41,312,000 after acquiring an additional 14,954 shares during the last quarter. KBC Group NV raised its stake in shares of PDD by 20.9% during the fourth quarter. KBC Group NV now owns 239,124 shares of the company’s stock worth $27,114,000 after purchasing an additional 41,272 shares during the last quarter. LBP AM SA purchased a new stake in shares of PDD during the fourth quarter worth approximately $6,690,000. Farther Finance Advisors LLC lifted its holdings in shares of PDD by 17.8% during the fourth quarter. Farther Finance Advisors LLC now owns 13,528 shares of the company’s stock worth $1,534,000 after purchasing an additional 2,049 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of PDD by 10.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,785,936 shares of the company’s stock worth $202,507,000 after purchasing an additional 173,068 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $98.99 on Wednesday. The company has a market capitalization of $137.81 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.07. PDD Holdings Inc. Sponsored ADR has a 12 month low of $95.24 and a 12 month high of $139.41. The company’s fifty day moving average price is $101.87 and its two-hundred day moving average price is $112.88.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Friday, April 17th. Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a report on Friday, March 27th. Finally, Loop Capital set a $170.00 price objective on PDD in a research note on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $139.67.

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.