China Universal Asset Management Co. Ltd. Purchases 13,192 Shares of PDD Holdings Inc. Sponsored ADR $PDD

China Universal Asset Management Co. Ltd. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 87.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,357 shares of the company’s stock after buying an additional 13,192 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in PDD were worth $3,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PDD. Vanguard Group Inc. boosted its position in PDD by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock worth $4,280,289,000 after acquiring an additional 348,997 shares during the last quarter. Norges Bank acquired a new position in PDD during the second quarter worth $962,785,000. Sanders Capital LLC grew its position in PDD by 21.5% in the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock valued at $892,395,000 after purchasing an additional 1,508,445 shares in the last quarter. Geode Capital Management LLC increased its stake in PDD by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock valued at $646,764,000 after buying an additional 240,627 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its position in PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after buying an additional 3,250,416 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PDD shares. Loop Capital set a $170.00 price objective on PDD in a report on Tuesday, January 6th. Sanford C. Bernstein set a $135.00 price target on PDD in a research note on Tuesday, November 18th. Arete Research set a $130.00 price objective on PDD in a research note on Tuesday, December 9th. Citigroup reissued a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Bank of America decreased their target price 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. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $139.87.

PDD Price Performance

Shares of PDD stock opened at $101.95 on Friday. The business has a fifty day simple moving average of $108.71 and a two-hundred day simple moving average of $119.64. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The company has a market capitalization of $141.93 billion and a price-to-earnings ratio of 10.64.

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.