3,172,333 Shares in PDD Holdings Inc. Sponsored ADR $PDD Acquired by Aspex Management HK Ltd

Aspex Management HK Ltd bought a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,172,333 shares of the company’s stock, valued at approximately $419,287,000. PDD accounts for 8.9% of Aspex Management HK Ltd’s holdings, making the stock its 4th largest holding. Aspex Management HK Ltd owned 0.23% of PDD at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PDD. Assetmark Inc. lifted its position in shares of PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after purchasing an additional 302 shares during the period. Westside Investment Management Inc. grew its position in shares of PDD by 79.9% in the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after buying an additional 199 shares during the last quarter. EMC Capital Management bought a new position in shares of PDD in the 2nd quarter worth approximately $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in PDD during the second quarter worth about $56,000. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Bank of America lowered their price target on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Morgan Stanley set a $148.00 price target on shares of PDD in a research report on Thursday, January 15th. Finally, Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, PDD has an average rating of “Hold” and a consensus price target of $139.87.

PDD Stock Performance

Shares of PDD stock opened at $102.65 on Friday. The firm has a fifty day moving average of $106.05 and a two-hundred day moving average of $118.08. The company has a market cap of $142.90 billion, a P/E ratio of 10.72, a PEG ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41.

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.