Lbp Am Sa Makes New $6.69 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Lbp Am Sa acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 59,000 shares of the company’s stock, valued at approximately $6,690,000.

Several other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in shares of PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after acquiring an additional 5,070,827 shares during the last quarter. Himalaya Capital Management LLC acquired a new position in PDD during the second quarter worth approximately $482,273,000. Orbis Allan Gray Ltd raised its stake in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after purchasing an additional 3,250,416 shares during the period. Aspex Management HK Ltd purchased a new position in PDD during the third quarter worth approximately $419,287,000. Finally, SG Americas Securities LLC boosted its holdings in shares of PDD by 931.4% in the 4th quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company’s stock valued at $367,171,000 after purchasing an additional 2,924,176 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Up 1.7%

PDD stock opened at $103.71 on Friday. The firm has a fifty day moving average of $102.03 and a 200-day moving average of $113.80. PDD Holdings Inc. Sponsored ADR has a 52-week low of $92.27 and a 52-week high of $139.41. The firm has a market capitalization of $144.38 billion, a P/E ratio of 11.03, a PEG ratio of 0.96 and a beta of 0.07.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PDD shares. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday, January 15th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Nomura upgraded PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Friday, March 27th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $140.27.

PDD Company 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.