Shell Asset Management Co. Has $3.62 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Shell Asset Management Co. lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,589 shares of the company’s stock after acquiring an additional 869 shares during the period. Shell Asset Management Co.’s holdings in PDD were worth $3,620,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Krane Funds Advisors LLC grew its stake in shares of PDD by 78.3% in the first quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company’s stock valued at $596,057,000 after acquiring an additional 2,211,286 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of 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 valued at $6,221,000 after acquiring an additional 10,036 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of PDD by 54.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock valued at $3,103,000 after acquiring an additional 9,206 shares in the last quarter. Finally, Banco BTG Pactual S.A. acquired a new position in shares of PDD in the first quarter valued at about $537,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research note on Saturday, September 27th. Benchmark reiterated a “buy” rating and set a $160.00 price objective (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. New Street Research downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, August 26th. Zacks Research upgraded shares of PDD from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. Finally, Barclays increased their price objective on shares of PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, PDD currently has a consensus rating of “Hold” and a consensus target price of $137.82.

PDD Trading Down 0.6%

PDD opened at $133.48 on Wednesday. The company’s 50 day moving average is $123.69 and its 200-day moving average is $112.63. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $145.71. The company has a market cap of $185.82 billion, a P/E ratio of 14.48, a PEG ratio of 1.59 and a beta of 0.40.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.