PDD Holdings Inc. Sponsored ADR $PDD Stake Increased by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. raised its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 62.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 345,888 shares of the company’s stock after purchasing an additional 133,000 shares during the quarter. PDD accounts for about 6.8% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 4th biggest holding. TB Alternative Assets Ltd.’s holdings in PDD were worth $45,716,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of PDD by 10.2% during the second quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock valued at $3,352,859,000 after acquiring an additional 2,956,249 shares in the last quarter. Norges Bank purchased a new stake in PDD during the 2nd quarter valued at $962,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of PDD by 899.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock worth $1,063,489,000 after purchasing an additional 8,086,620 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of PDD by 21.5% in the 2nd quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after purchasing an additional 1,508,445 shares in the last quarter. Finally, H&H International Investment LLC raised its stake in shares of PDD by 7.3% in the first quarter. H&H International Investment LLC now owns 7,753,900 shares of the company’s stock worth $917,674,000 after purchasing an additional 525,200 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PDD shares. Sanford C. Bernstein set a $135.00 price target on PDD in a report on Tuesday, November 18th. Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Wall Street Zen raised shares of PDD from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Bank of America reduced their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Finally, Arete downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, December 9th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $136.43.

PDD Stock Up 1.4%

NASDAQ PDD opened at $115.01 on Friday. The company has a 50-day moving average price of $122.71 and a 200-day moving average price of $119.47. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41. The firm has a market capitalization of $160.11 billion, a P/E ratio of 12.01, a PEG ratio of 1.29 and a beta of 0.07.

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.