Prudential PLC Sells 61,150 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Prudential PLC trimmed its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,556,903 shares of the company’s stock after selling 61,150 shares during the period. PDD accounts for about 1.5% of Prudential PLC’s holdings, making the stock its 10th biggest holding. Prudential PLC owned approximately 0.11% of PDD worth $205,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. TB Alternative Assets Ltd. lifted its position in shares of PDD by 62.5% during the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock worth $45,716,000 after purchasing an additional 133,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in PDD by 17.3% in 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 in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in PDD in the 3rd quarter valued at about $2,790,000. Nomura Holdings Inc. grew its stake in shares of 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 acquiring an additional 69,728 shares in the last quarter. Finally, Freemont Capital Pte Ltd grew its stake in shares of PDD by 19.2% during the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock valued at $3,244,000 after acquiring an additional 5,000 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock opened at $102.65 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The firm’s 50-day simple moving average is $106.05 and its 200-day simple moving average is $118.08. The firm has a market cap of $142.90 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.90 and a beta of -0.01.

Wall Street Analyst Weigh In

PDD has been the topic of several recent analyst reports. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Arete Research set a $130.00 price objective on PDD in a report on Tuesday, December 9th. Bank of America cut their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $139.87.

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.