State of Wyoming Acquires New Shares in PDD Holdings Inc. Sponsored ADR $PDD

State of Wyoming bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,620 shares of the company’s stock, valued at approximately $1,271,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PDD. TB Alternative Assets Ltd. boosted its position in PDD by 62.5% during the third 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. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of PDD by 17.3% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock valued at $48,694,000 after buying an additional 54,418 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of PDD in the 3rd quarter valued at about $2,790,000. Nomura Holdings Inc. raised its stake in shares of PDD by 67.1% during the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after acquiring an additional 69,728 shares in the last quarter. Finally, Freemont Capital Pte Ltd lifted its position in 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 during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PDD. Morgan Stanley set a $148.00 price objective on shares of PDD in a report on Thursday, January 15th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research note on Saturday. Arete Research set a $130.00 price target on shares of PDD in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $139.87.

PDD Price Performance

Shares of PDD opened at $101.05 on Monday. The stock has a market cap of $140.68 billion and a PE ratio of 10.55. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The firm has a 50-day simple moving average of $112.45 and a two-hundred day simple moving average of $120.82.

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.