Mitsubishi UFJ Asset Management Co. Ltd. Buys 61,552 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 817,939 shares of the company’s stock after purchasing an additional 61,552 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.06% of PDD worth $108,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Intech Investment Management LLC lifted its position in shares of PDD by 12.5% during the 3rd quarter. Intech Investment Management LLC now owns 20,230 shares of the company’s stock valued at $2,674,000 after buying an additional 2,255 shares during the last quarter. Krane Funds Advisors LLC raised its stake in PDD by 25.5% in the 3rd quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock valued at $792,431,000 after acquiring an additional 1,247,634 shares during the period. AXQ Capital LP lifted its holdings in PDD by 31.8% during the third quarter. AXQ Capital LP now owns 4,497 shares of the company’s stock valued at $594,000 after purchasing an additional 1,085 shares during the last quarter. Compound Planning Inc. lifted its holdings in PDD by 54.7% during the third quarter. Compound Planning Inc. now owns 8,336 shares of the company’s stock valued at $1,102,000 after purchasing an additional 2,949 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in PDD by 10.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,832 shares of the company’s stock worth $242,000 after purchasing an additional 170 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Loop Capital set a $170.00 price target on shares of PDD in a research report on Tuesday, January 6th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Sanford C. Bernstein set a $135.00 target price on PDD in a research report on Tuesday, November 18th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Bank of America reduced their price target on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $139.87.

PDD Price Performance

NASDAQ PDD opened at $105.39 on Friday. The company’s 50 day simple moving average is $108.46 and its two-hundred day simple moving average is $119.38. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The stock has a market capitalization of $146.72 billion and a PE ratio of 11.00.

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.