Greenwoods Asset Management Hong Kong Ltd. Purchases 611,306 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Greenwoods Asset Management Hong Kong Ltd. grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 18.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,968,270 shares of the company’s stock after purchasing an additional 611,306 shares during the period. PDD makes up 11.1% of Greenwoods Asset Management Hong Kong Ltd.’s portfolio, making the stock its 3rd biggest position. Greenwoods Asset Management Hong Kong Ltd. owned about 0.29% of PDD worth $449,962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC increased its holdings in shares of PDD by 11.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock valued at $27,522,000 after purchasing an additional 25,369 shares during the period. Rakuten Investment Management Inc. purchased a new stake in shares of PDD in the third quarter worth approximately $18,311,000. Step Capital Management Pte. Ltd. purchased a new stake in shares of PDD in the fourth quarter worth approximately $8,504,000. Triata Capital Ltd boosted its holdings in shares of PDD by 55.7% during the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock worth $336,304,000 after purchasing an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd acquired a new stake in shares of PDD during the third quarter worth approximately $419,287,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ:PDD opened at $97.34 on Wednesday. The company has a market capitalization of $138.55 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.89 and a beta of 0.04. The stock’s 50 day moving average price is $100.13 and its 200 day moving average price is $108.64. PDD Holdings Inc. Sponsored ADR has a 52 week low of $93.81 and a 52 week high of $139.41.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Friday, March 27th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, April 17th. Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $137.86.

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.