ProShare Advisors LLC Has $119.74 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

ProShare Advisors LLC increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 41.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,056,004 shares of the company’s stock after buying an additional 309,939 shares during the period. ProShare Advisors LLC’s holdings in PDD were worth $119,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PDD. Assenagon Asset Management S.A. lifted its position in PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in PDD during the 2nd quarter worth $482,273,000. Orbis Allan Gray Ltd lifted its holdings in PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after buying an additional 3,250,416 shares in the last quarter. Aspex Management HK Ltd acquired a new position in PDD during the 3rd quarter worth $419,287,000. Finally, SG Americas Securities LLC lifted its holdings in PDD by 931.4% during the 4th quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company’s stock worth $367,171,000 after buying an additional 2,924,176 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 2.5%

PDD stock opened at $97.34 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $93.81 and a 1 year high of $139.41. The company has a market cap of $138.55 billion, a PE ratio of 10.36, a PEG ratio of 0.89 and a beta of 0.04. The company’s 50-day moving average is $100.13 and its two-hundred day moving average is $108.64.

Analysts Set New Price Targets

PDD has been the topic of several research reports. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Friday, March 27th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus price target of $137.86.

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.