Vanguard Group Inc. Purchases 348,997 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Vanguard Group Inc. boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,384,722 shares of the company’s stock after purchasing an additional 348,997 shares during the quarter. Vanguard Group Inc. owned approximately 2.33% of PDD worth $4,280,289,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Focus Partners Wealth increased its stake in shares of PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after acquiring an additional 7,744 shares in the last quarter. Intech Investment Management LLC grew its holdings in PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of PDD during the second quarter valued at approximately $3,935,000. International Assets Investment Management LLC lifted its holdings in shares of PDD by 31.7% during the second quarter. International Assets Investment Management LLC now owns 2,905 shares of the company’s stock valued at $304,000 after purchasing an additional 700 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in shares of PDD by 15.2% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,495 shares of the company’s stock worth $261,000 after purchasing an additional 330 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of analyst reports. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, PDD currently has a consensus rating of “Hold” and an average price target of $139.87.

PDD Stock Performance

NASDAQ PDD opened at $101.83 on Wednesday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The stock has a 50-day moving average of $109.16 and a 200 day moving average of $119.88. The company has a market capitalization of $141.76 billion and a price-to-earnings ratio of 10.63.

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.