Himension Capital Singapore PTE. LTD. Has $10.88 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Himension Capital Singapore PTE. LTD. lifted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 26.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 103,955 shares of the company’s stock after acquiring an additional 21,479 shares during the period. PDD makes up about 0.8% of Himension Capital Singapore PTE. LTD.’s investment portfolio, making the stock its 16th largest position. Himension Capital Singapore PTE. LTD.’s holdings in PDD were worth $10,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its position in shares of PDD by 398.0% in the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the period. Ameritas Advisory Services LLC acquired a new stake in PDD in the 2nd quarter valued at about $28,000. IFP Advisors Inc grew its holdings in PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after purchasing an additional 290 shares during the period. EMC Capital Management acquired a new position in PDD during the second quarter worth approximately $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in PDD during the second quarter worth approximately $56,000. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

PDD stock opened at $114.00 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41. The company has a market capitalization of $158.71 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.47. The company’s 50-day simple moving average is $130.54 and its 200 day simple moving average is $118.74.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PDD. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a report on Saturday. Benchmark reaffirmed a “buy” rating and set a $160.00 price objective (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Barclays upped their price objective on shares of PDD from $158.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Finally, Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $137.50.

PDD Company Profile

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.