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

AustralianSuper Pty Ltd lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 18.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 41,422 shares of the company’s stock after acquiring an additional 6,432 shares during the period. AustralianSuper Pty Ltd’s holdings in PDD were worth $5,475,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. TB Alternative Assets Ltd. raised its holdings in shares of PDD by 62.5% in the 3rd quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock worth $45,716,000 after buying an additional 133,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock valued at $48,694,000 after acquiring an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in PDD during the third quarter worth $2,790,000. Nomura Holdings Inc. lifted its holdings in shares of PDD by 67.1% during the second quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after acquiring an additional 69,728 shares during the period. Finally, Freemont Capital Pte Ltd boosted its stake in shares of PDD by 19.2% in the 2nd quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock valued at $3,244,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PDD shares. Bank of America dropped their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Arete Research set a $130.00 price target on PDD in a report on Tuesday, December 9th. Finally, Sanford C. Bernstein set a $135.00 price objective on PDD in a research note on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Price Performance

PDD stock opened at $101.19 on Thursday. The company has a 50 day moving average price of $107.69 and a 200 day moving average price of $119.02. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The stock has a market capitalization of $140.87 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.93 and a beta of -0.01.

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.