Comgest Global Investors S.A.S. Raises Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Comgest Global Investors S.A.S. raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 56,509 shares of the company’s stock after acquiring an additional 5,562 shares during the period. Comgest Global Investors S.A.S.’s holdings in PDD were worth $7,469,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. NewEdge Wealth LLC lifted its holdings in shares of PDD by 8.6% in the 3rd quarter. NewEdge Wealth LLC now owns 15,048 shares of the company’s stock valued at $2,052,000 after buying an additional 1,194 shares during the period. May Hill Capital LLC raised its position in PDD by 78.0% during the third quarter. May Hill Capital LLC now owns 4,357 shares of the company’s stock valued at $576,000 after acquiring an additional 1,909 shares in the last quarter. NEOS Investment Management LLC lifted its holdings in PDD by 69.7% in the third quarter. NEOS Investment Management LLC now owns 204,356 shares of the company’s stock valued at $27,010,000 after acquiring an additional 83,963 shares during the period. GSA Capital Partners LLP lifted its holdings in PDD by 41.6% in the third quarter. GSA Capital Partners LLP now owns 4,566 shares of the company’s stock valued at $603,000 after acquiring an additional 1,342 shares during the period. Finally, Vanguard Group Inc. boosted its position in PDD by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock worth $4,280,289,000 after purchasing an additional 348,997 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Up 1.1%

PDD stock opened at $102.92 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The business’s 50-day moving average is $108.91 and its 200 day moving average is $119.76. The stock has a market cap of $143.28 billion and a price-to-earnings ratio of 10.74.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Arete Research set a $130.00 target price on shares of PDD in a report on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a report on Tuesday, November 18th. Bank of America lowered their target price 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. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. 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 has an average rating of “Hold” and an average target price of $139.87.

About PDD

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.