PDD Holdings Inc. Sponsored ADR $PDD is E Fund Management Hong Kong Co. Ltd.’s Largest Position

E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 2.1% during the 3rd quarter, Holdings Channel reports. The firm owned 288,652 shares of the company’s stock after acquiring an additional 6,018 shares during the quarter. PDD comprises approximately 23.2% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in PDD were worth $38,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TB Alternative Assets Ltd. boosted its stake in shares of PDD by 62.5% in the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock worth $45,716,000 after buying an additional 133,000 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in PDD by 20.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock valued at $6,221,000 after acquiring an additional 10,036 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of PDD by 53.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock valued at $773,878,000 after purchasing an additional 2,573,065 shares in the last quarter. Nomura Holdings Inc. increased its holdings in shares of PDD by 67.1% during the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after purchasing an additional 69,728 shares in the last quarter. Finally, Freemont Capital Pte Ltd boosted its holdings in PDD by 19.2% during the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Up 3.0%

PDD opened at $122.66 on Wednesday. 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 cap of $170.76 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.11 and a beta of 0.02. The business’s 50 day moving average is $120.25 and its two-hundred day moving average is $120.27.

Analyst Ratings Changes

A number of analysts have recently commented on PDD shares. Sanford C. Bernstein set a $135.00 price objective on PDD in a research report on Tuesday, November 18th. Bank of America dropped 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. Loop Capital set a $170.00 target price on shares of PDD in a research note on Tuesday. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $138.67.

PDD Company 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.