PDD Holdings Inc. Sponsored ADR $PDD Stock Position Lifted by Barings LLC

Barings LLC grew its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 11.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 539,000 shares of the company’s stock after purchasing an additional 55,513 shares during the period. PDD makes up approximately 1.4% of Barings LLC’s investment portfolio, making the stock its 11th largest holding. Barings LLC’s holdings in PDD were worth $71,240,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Greenwoods Asset Management Hong Kong Ltd. increased its stake in PDD by 4.3% during the 3rd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,356,964 shares of the company’s stock valued at $443,690,000 after buying an additional 137,125 shares during the period. Sava Infond d.o.o. increased its stake in shares of PDD by 36.1% during the third quarter. Sava Infond d.o.o. now owns 8,300 shares of the company’s stock valued at $1,097,000 after acquiring an additional 2,200 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in PDD by 87.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 28,357 shares of the company’s stock worth $3,748,000 after purchasing an additional 13,192 shares in the last quarter. WT Asset Management Ltd lifted its position in PDD by 15,030.8% in the third quarter. WT Asset Management Ltd now owns 756,540 shares of the company’s stock worth $99,992,000 after purchasing an additional 751,540 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in PDD in the third quarter worth approximately $2,908,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 2.9%

Shares of PDD opened at $104.94 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The stock has a market capitalization of $146.09 billion and a P/E ratio of 10.95. The business’s 50-day moving average price is $108.57 and its 200 day moving average price is $119.59.

Analyst Ratings Changes

PDD has been the topic of a number of research reports. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Arete Research set a $130.00 price target on shares of PDD in a research report on Tuesday, December 9th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $139.87.

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.