ProShare Advisors LLC Has $119.74 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

ProShare Advisors LLC boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 41.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,056,004 shares of the company’s stock after buying an additional 309,939 shares during the period. ProShare Advisors LLC owned about 0.08% of PDD worth $119,740,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its holdings in shares of PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC acquired a new stake in PDD in the 2nd quarter valued at $482,273,000. Orbis Allan Gray Ltd boosted its stake in 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 buying an additional 3,250,416 shares in the last quarter. Aspex Management HK Ltd bought a new stake in PDD in the third quarter valued at $419,287,000. Finally, SG Americas Securities LLC grew its position in PDD by 931.4% in the fourth quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company’s stock valued at $367,171,000 after acquiring an additional 2,924,176 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

PDD has been the subject of a number of analyst reports. Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Friday, March 27th. Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Friday, April 17th. Finally, Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $137.86.

PDD Price Performance

Shares of PDD opened at $97.34 on Wednesday. The company has a market capitalization of $138.55 billion, a P/E ratio of 10.36, a PEG ratio of 0.89 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a one year low of $93.81 and a one year high of $139.41. The business’s 50 day simple moving average is $100.13 and its 200-day simple moving average is $108.64.

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.