Pathway Capital Management LP Takes Position in PDD Holdings Inc. Sponsored ADR $PDD

Pathway Capital Management LP purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 7,197 shares of the company’s stock, valued at approximately $951,000. PDD comprises 4.7% of Pathway Capital Management LP’s investment portfolio, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in PDD in the 2nd quarter worth approximately $962,785,000. Himalaya Capital Management LLC acquired a new stake in PDD during the 2nd quarter valued at approximately $482,273,000. NetEase Inc. purchased a new stake in shares of PDD in the 2nd quarter valued at $372,117,000. Orbis Allan Gray Ltd increased its stake in shares of PDD by 135.6% in the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after acquiring an additional 3,250,416 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of PDD by 10.2% in the second quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock worth $3,352,859,000 after acquiring an additional 2,956,249 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Up 2.4%

PDD stock opened at $103.49 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41. The stock has a market cap of $144.07 billion and a price-to-earnings ratio of 10.80. The business has a fifty day moving average of $112.25 and a two-hundred day moving average of $120.79.

Analyst Ratings Changes

A number of research analysts recently issued reports on PDD shares. Loop Capital set a $170.00 target price on shares of PDD in a research report on Tuesday, January 6th. Morgan Stanley set a $148.00 target price on PDD in a research note on Thursday, January 15th. Bank of America dropped their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Zacks Research lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research report on Tuesday, November 18th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock presently 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.