8,371 Shares in PDD Holdings Inc. Sponsored ADR $PDD Acquired by Sparta 24 Ltd.

Sparta 24 Ltd. acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,371 shares of the company’s stock, valued at approximately $949,000. PDD makes up approximately 0.8% of Sparta 24 Ltd.’s holdings, making the stock its 8th biggest position.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC purchased a new position in PDD in the fourth quarter worth $24,192,000. State of New Jersey Common Pension Fund D bought a new stake in PDD during the fourth quarter worth about $4,578,000. ABS Direct Equity Fund LLC lifted its stake in PDD by 33.7% during the fourth quarter. ABS Direct Equity Fund LLC now owns 57,530 shares of the company’s stock worth $6,523,000 after purchasing an additional 14,497 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in shares of PDD in the 4th quarter worth about $395,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of PDD by 25.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,167,810 shares of the company’s stock valued at $359,198,000 after purchasing an additional 644,544 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on PDD shares. Morgan Stanley set a $148.00 target price on PDD in a research report on Thursday, January 15th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Friday, March 27th. Finally, Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Six 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.com, PDD currently has an average rating of “Hold” and a consensus target price of $139.67.

PDD Stock Up 2.3%

NASDAQ:PDD opened at $99.88 on Friday. The firm has a market capitalization of $139.05 billion, a P/E ratio of 10.63, a P/E/G ratio of 0.92 and a beta of 0.07. The company has a fifty day moving average of $101.41 and a 200 day moving average of $111.54. PDD Holdings Inc. Sponsored ADR has a 52 week low of $95.24 and a 52 week high of $139.41.

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.