National Pension Service Grows Holdings in PDD Holdings Inc. Sponsored ADR $PDD

National Pension Service raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 179,463 shares of the company’s stock after buying an additional 6,395 shares during the period. National Pension Service’s holdings in PDD were worth $23,720,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

PDD has been the subject of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Morgan Stanley set a $148.00 price objective on shares of PDD in a report on Thursday, January 15th. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Bank of America dropped their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Stock Performance

Shares of PDD opened at $103.49 on Tuesday. The firm has a fifty day moving average of $112.25 and a 200-day moving average of $120.79. The company has a market cap of $144.07 billion and a price-to-earnings ratio of 10.80. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41.

PDD Company 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.