Kora Management LP Grows Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Kora Management LP increased its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 33.3% during the third quarter, Holdings Channel.com reports. The firm owned 604,250 shares of the company’s stock after acquiring an additional 151,000 shares during the quarter. PDD accounts for 8.5% of Kora Management LP’s investment portfolio, making the stock its 4th largest holding. Kora Management LP’s holdings in PDD were worth $79,864,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Focus Partners Wealth boosted its position in PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after buying an additional 7,744 shares during the period. Intech Investment Management LLC increased its holdings in shares of 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 buying an additional 395 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of PDD by 6.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,559 shares of the company’s stock valued at $2,152,000 after acquiring an additional 1,186 shares during the last quarter. Savant Capital LLC lifted its stake in shares of PDD by 65.1% in the 2nd quarter. Savant Capital LLC now owns 2,928 shares of the company’s stock valued at $306,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in PDD by 27.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,381,299 shares of the company’s stock valued at $144,567,000 after acquiring an additional 296,320 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

PDD opened at $103.84 on Tuesday. The business has a 50 day simple moving average of $105.74 and a two-hundred day simple moving average of $117.88. The firm has a market capitalization of $144.56 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41.

Analysts Set New Price Targets

PDD has been the topic of several recent research reports. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Arete Research set a $130.00 target price on shares of PDD in a report on Tuesday, December 9th. Morgan Stanley set a $148.00 target price on shares of PDD in a research note on Thursday, January 15th. Bank of America lowered their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Finally, Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research report on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.87.

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.