PKO Investment Management Joint Stock Co Purchases New Shares in PDD Holdings Inc. Sponsored ADR $PDD

PKO Investment Management Joint Stock Co acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $1,983,000.

A number of other institutional investors also recently modified their holdings of PDD. Focus Partners Wealth grew its stake in shares of PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC lifted its holdings in PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after buying an additional 395 shares in the last quarter. Strs Ohio bought a new position in PDD in the 1st quarter valued at $6,876,000. Range Financial Group LLC boosted its position in PDD by 31.1% in the 2nd quarter. Range Financial Group LLC now owns 3,373 shares of the company’s stock valued at $353,000 after buying an additional 800 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its stake in shares of PDD by 28.7% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,975 shares of the company’s stock valued at $311,000 after buying an additional 664 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Trading Down 1.5%

Shares of PDD stock opened at $118.73 on Tuesday. The firm’s fifty day moving average price is $119.01 and its two-hundred day moving average price is $120.69. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The firm has a market capitalization of $165.29 billion, a P/E ratio of 12.39, a PEG ratio of 1.12 and a beta of 0.02.

Wall Street Analyst Weigh In

PDD has been the topic of several recent research reports. Arete cut PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target on the stock. in a report on Tuesday, December 9th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a report on Tuesday, November 18th. Bank of America dropped their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Finally, Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, PDD currently has a consensus rating of “Hold” and an average target price of $138.67.

PDD Profile

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.