Swiss Life Asset Management Ltd Boosts Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Swiss Life Asset Management Ltd raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 92,430 shares of the company’s stock after acquiring an additional 22,207 shares during the period. Swiss Life Asset Management Ltd’s holdings in PDD were worth $10,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of PDD. Focus Partners Wealth boosted its position in shares of PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,744 shares during the period. Intech Investment Management LLC boosted its position in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after acquiring an additional 395 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of PDD by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after acquiring an additional 637 shares during the period. Cerity Partners LLC lifted its position in PDD by 2.0% during the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after purchasing an additional 382 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in PDD by 0.3% during the second quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock valued at $14,914,000 after purchasing an additional 369 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PDD shares. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on shares of PDD in a report on Thursday, January 15th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Friday, April 17th. Finally, Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, PDD has an average rating of “Hold” and an average price target of $137.86.

PDD Trading Down 3.1%

Shares of PDD stock opened at $95.73 on Wednesday. The company’s fifty day simple moving average is $100.62 and its two-hundred day simple moving average is $110.03. The company has a market cap of $136.26 billion, a P/E ratio of 10.18, a PEG ratio of 0.93 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a 12-month low of $95.24 and a 12-month high of $139.41.

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.