Candriam S.C.A. Purchases 107,200 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Candriam S.C.A. grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 158.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 175,000 shares of the company’s stock after purchasing an additional 107,200 shares during the quarter. Candriam S.C.A.’s holdings in PDD were worth $23,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of PDD during the second quarter worth $962,785,000. Himalaya Capital Management LLC acquired a new position in PDD during the second quarter valued at approximately $482,273,000. NetEase Inc. acquired a new stake in shares of PDD in the 2nd quarter valued at approximately $372,117,000. Orbis Allan Gray Ltd grew its position in shares of PDD by 135.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after acquiring an additional 3,250,416 shares during the period. Finally, Vanguard Group Inc. grew its holdings in PDD by 10.2% during the second quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock worth $3,352,859,000 after purchasing an additional 2,956,249 shares during the period. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a report on Tuesday, November 18th. Loop Capital set a $170.00 target price on PDD in a research report on Tuesday, January 6th. Arete Research set a $130.00 price objective on PDD in a research report on Tuesday, December 9th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.87.

PDD Price Performance

PDD opened at $105.57 on Tuesday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The company has a fifty day moving average price of $111.01 and a 200-day moving average price of $120.41. The firm has a market capitalization of $146.97 billion and a P/E ratio of 11.02.

PDD 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.