Mackenzie Financial Corp Purchases 10,236 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Mackenzie Financial Corp lifted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 2.8% during the third quarter, Holdings Channel reports. The institutional investor owned 371,390 shares of the company’s stock after buying an additional 10,236 shares during the quarter. Mackenzie Financial Corp’s holdings in PDD were worth $49,087,000 as of its most recent SEC filing.

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

PDD Stock Down 1.3%

PDD stock opened at $101.62 on Friday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41. The firm has a market cap of $141.47 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.91 and a beta of -0.01. The business’s 50-day moving average price is $106.31 and its 200 day moving average price is $118.26.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America lowered their price target on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 target price on shares of PDD in a research note on Tuesday, January 6th. Finally, Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.87.

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.