AustralianSuper Pty Ltd Has $5.48 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

AustralianSuper Pty Ltd raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,422 shares of the company’s stock after buying an additional 6,432 shares during the period. AustralianSuper Pty Ltd’s holdings in PDD were worth $5,475,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PDD. Westside Investment Management Inc. raised its holdings in PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of PDD in the second quarter valued at $28,000. EMC Capital Management bought a new position in PDD in the 2nd quarter valued at about $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in PDD during the second quarter worth $56,000. Finally, Global Retirement Partners LLC grew its stake in shares of PDD by 215.7% in the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after acquiring an additional 302 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of PDD from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $139.87.

PDD Stock Down 0.1%

PDD stock opened at $102.70 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The business has a 50 day moving average of $112.70 and a 200 day moving average of $120.61. The firm has a market cap of $142.97 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.95 and a beta of 0.02.

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.