PKO Investment Management Joint Stock Co Takes Position in PDD Holdings Inc. Sponsored ADR $PDD

PKO Investment Management Joint Stock Co purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 15,000 shares of the company’s stock, valued at approximately $1,983,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TB Alternative Assets Ltd. raised 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 in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in PDD by 20.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock worth $6,221,000 after purchasing an additional 10,036 shares in the last quarter. Assenagon Asset Management S.A. increased its position in PDD by 53.4% during the second quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock worth $773,878,000 after buying an additional 2,573,065 shares during the last quarter. Nomura Holdings Inc. raised its holdings in 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 buying an additional 69,728 shares in the last quarter. Finally, Freemont Capital Pte Ltd lifted its position in shares of PDD by 19.2% in the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Arete Research set a $130.00 price objective on shares of PDD in a report on Tuesday, December 9th. Bank of America decreased their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Arete cut shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a research note on Tuesday, December 9th. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus target price of $138.67.

PDD Stock Performance

PDD opened at $118.73 on Tuesday. The firm has a market cap of $165.29 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.12 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The firm’s 50-day simple moving average is $119.01 and its 200-day simple moving average is $120.69.

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.