Aberdeen Group plc Has $161.77 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Aberdeen Group plc trimmed its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,228,193 shares of the company’s stock after selling 50,473 shares during the period. Aberdeen Group plc owned about 0.09% of PDD worth $161,771,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. TB Alternative Assets Ltd. lifted its holdings in shares of PDD by 62.5% in the 3rd 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock valued at $48,694,000 after purchasing an additional 54,418 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of PDD during the 3rd quarter valued at $2,790,000. Nomura Holdings Inc. grew its stake in PDD by 67.1% in the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after buying an additional 69,728 shares in the last quarter. Finally, Freemont Capital Pte Ltd boosted its stake in shares of PDD by 19.2% in the 2nd quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock valued at $3,244,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PDD. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Loop Capital set a $170.00 target price on PDD in a research report on Tuesday, January 6th. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $139.87.

PDD Stock Up 0.1%

PDD stock opened at $100.28 on Friday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41. The firm has a market cap of $139.60 billion and a price-to-earnings ratio of 10.47. The business’s 50-day moving average price is $109.81 and its 200 day moving average price is $119.98.

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.