Avenir Tech Ltd Makes New $2.30 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Avenir Tech Ltd purchased a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,000 shares of the company’s stock, valued at approximately $2,303,000. PDD makes up 0.2% of Avenir Tech Ltd’s investment portfolio, making the stock its 13th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Temasek Holdings Private Ltd lifted its holdings in PDD by 28.2% in the second quarter. Temasek Holdings Private Ltd now owns 1,451,954 shares of the company’s stock worth $151,962,000 after purchasing an additional 318,969 shares during the period. NetEase Inc. bought a new stake in shares of PDD during the 2nd quarter worth about $372,117,000. Natixis lifted its stake in shares of PDD by 78.3% in the 2nd quarter. Natixis now owns 60,166 shares of the company’s stock worth $6,297,000 after acquiring an additional 26,418 shares during the period. California Public Employees Retirement System boosted its holdings in shares of PDD by 8.7% in the second quarter. California Public Employees Retirement System now owns 1,061,440 shares of the company’s stock valued at $111,090,000 after acquiring an additional 85,343 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of PDD by 2.0% in the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after acquiring an additional 382 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PDD shares. Benchmark restated a “buy” rating and issued a $160.00 target price (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Barclays raised their target price on PDD from $158.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $137.50.

PDD Price Performance

Shares of NASDAQ PDD opened at $117.62 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41. The company has a market cap of $163.74 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.39 and a beta of 0.08. The business has a fifty day simple moving average of $128.08 and a 200-day simple moving average of $118.69.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.