Comgest Global Investors S.A.S. Acquires 5,562 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Comgest Global Investors S.A.S. increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,509 shares of the company’s stock after purchasing an additional 5,562 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in PDD were worth $7,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Wealth LLC lifted its position in shares of PDD by 8.6% during the third quarter. NewEdge Wealth LLC now owns 15,048 shares of the company’s stock valued at $2,052,000 after buying an additional 1,194 shares during the last quarter. May Hill Capital LLC grew its position in shares of PDD by 78.0% in the 3rd quarter. May Hill Capital LLC now owns 4,357 shares of the company’s stock worth $576,000 after buying an additional 1,909 shares during the last quarter. NEOS Investment Management LLC raised its stake in shares of PDD by 69.7% during the 3rd quarter. NEOS Investment Management LLC now owns 204,356 shares of the company’s stock worth $27,010,000 after acquiring an additional 83,963 shares in the last quarter. GSA Capital Partners LLP lifted its position in PDD by 41.6% during the third quarter. GSA Capital Partners LLP now owns 4,566 shares of the company’s stock valued at $603,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in PDD by 1.1% in the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock valued at $4,280,289,000 after acquiring an additional 348,997 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PDD. Arete Research set a $130.00 price target on PDD in a research report on Tuesday, December 9th. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Bank of America cut their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, PDD currently has a consensus rating of “Hold” and an average target price of $139.87.

PDD Stock Performance

PDD stock opened at $102.92 on Thursday. The business’s 50-day simple moving average is $108.91 and its two-hundred day simple moving average is $119.76. The company has a market cap of $143.28 billion and a PE ratio of 10.74. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two 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.