PDD Holdings Inc. Sponsored ADR $PDD is Monolith Management Ltd’s 3rd Largest Position

Monolith Management Ltd grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,393 shares of the company’s stock after buying an additional 16,385 shares during the quarter. PDD accounts for 12.2% of Monolith Management Ltd’s holdings, making the stock its 3rd largest holding. Monolith Management Ltd’s holdings in PDD were worth $27,675,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased 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 purchasing an additional 348,997 shares during the last quarter. Norges Bank purchased a new position in PDD during the second quarter worth about $962,785,000. Sanders Capital LLC boosted its stake in shares of PDD by 21.5% in the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock valued at $892,395,000 after buying an additional 1,508,445 shares in the last quarter. Geode Capital Management LLC increased its holdings in PDD by 4.0% in the second quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock valued at $646,764,000 after buying an additional 240,627 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its holdings in PDD by 25.5% in the third quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock valued at $792,431,000 after purchasing an additional 1,247,634 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PDD shares. Sanford C. Bernstein set a $135.00 target price on PDD in a research note on Tuesday, November 18th. Morgan Stanley set a $148.00 price target on shares of PDD in a report on Thursday, January 15th. Bank of America decreased their target price on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $139.87.

PDD Trading Up 2.2%

Shares of NASDAQ:PDD opened at $104.86 on Wednesday. The company has a 50 day moving average of $106.76 and a 200-day moving average of $118.48. The firm has a market cap of $145.98 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41.

About PDD

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.