OPTIMAS CAPITAL Ltd Purchases New Position in PDD Holdings Inc. Sponsored ADR $PDD

OPTIMAS CAPITAL Ltd bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 32,549 shares of the company’s stock, valued at approximately $4,302,000. PDD makes up approximately 2.7% of OPTIMAS CAPITAL Ltd’s portfolio, making the stock its 13th largest holding.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of PDD by 10.2% during the second quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock valued at $3,352,859,000 after purchasing an additional 2,956,249 shares in the last quarter. Norges Bank bought a new position in shares of PDD during the 2nd quarter valued at $962,785,000. Sanders Capital LLC grew its stake in shares of PDD by 21.5% during the 2nd quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock valued at $892,395,000 after purchasing an additional 1,508,445 shares during the period. Geode Capital Management LLC grew its position in PDD by 4.0% during the second quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock valued at $646,764,000 after buying an additional 240,627 shares during the period. Finally, Orbis Allan Gray Ltd increased its holdings in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after buying an additional 3,250,416 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PDD has been the topic of several analyst reports. Morgan Stanley set a $148.00 price target on shares of PDD in a research note on Thursday, January 15th. Bank of America cut their price target on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Sanford C. Bernstein set a $135.00 price objective on PDD in a research note on Tuesday, November 18th. Finally, Loop Capital set a $170.00 price target on shares of PDD in a report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $139.87.

PDD Price Performance

PDD stock opened at $105.23 on Monday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The firm’s 50 day moving average price is $111.26 and its 200-day moving average price is $120.50. The stock has a market cap of $146.50 billion and a P/E ratio of 10.98.

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.