OVERSEA CHINESE BANKING Corp Ltd Has $48.69 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 17.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368,564 shares of the company’s stock after acquiring an additional 54,418 shares during the period. PDD accounts for approximately 1.2% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 19th largest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in PDD were worth $48,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. PKO Investment Management Joint Stock Co bought a new stake in PDD in the third quarter worth $1,983,000. RWC Asset Management LLP acquired a new stake in shares of PDD in the third quarter worth about $845,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 buying an additional 74,225 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of PDD by 2.4% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 168,200 shares of the company’s stock worth $22,231,000 after acquiring an additional 3,900 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of PDD by 2.1% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 288,652 shares of the company’s stock valued at $38,151,000 after acquiring an additional 6,018 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PDD has been the subject of several analyst reports. Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Bank of America dropped their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Arete Research set a $130.00 price objective on shares of PDD in a report on Tuesday, December 9th. Morgan Stanley set a $148.00 target price on shares of PDD in a research note on Thursday. Finally, Arete downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 target price on the stock. in a report on Tuesday, December 9th. Five analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Hold” and a consensus target price of $139.25.

PDD Trading Down 4.0%

PDD opened at $107.85 on Thursday. The business has a 50 day moving average of $118.01 and a 200-day moving average of $120.65. The stock has a market capitalization of $150.14 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.05 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41.

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.