China Universal Asset Management Co. Ltd. Purchases 11,695 Shares of PDD Holdings Inc. Sponsored ADR $PDD

China Universal Asset Management Co. Ltd. increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 41.2% in the 4th quarter, HoldingsChannel reports. The fund owned 40,052 shares of the company’s stock after acquiring an additional 11,695 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in PDD were worth $4,541,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PDD. Assenagon Asset Management S.A. raised its stake in shares of PDD by 305.8% during the 4th 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 in the last quarter. Himalaya Capital Management LLC bought a new position in shares of PDD during the 2nd quarter worth approximately $482,273,000. Orbis Allan Gray Ltd raised its stake in shares of PDD by 135.6% during the 2nd 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 in the last quarter. Aspex Management HK Ltd bought a new position in shares of PDD during the 3rd quarter worth approximately $419,287,000. Finally, SG Americas Securities LLC raised its stake in shares of PDD by 931.4% during the 4th quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company’s stock worth $367,171,000 after acquiring an additional 2,924,176 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PDD shares. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 target price on the stock in a research report on Friday, March 27th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 target price on shares of PDD in a research report on Tuesday, January 6th. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday, April 17th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, PDD currently has an average rating of “Hold” and an average target price of $139.67.

PDD Trading Down 2.3%

NASDAQ:PDD opened at $97.77 on Friday. The company has a market cap of $136.11 billion, a PE ratio of 10.40, a P/E/G ratio of 0.94 and a beta of 0.07. PDD Holdings Inc. Sponsored ADR has a twelve month low of $95.24 and a twelve month high of $139.41. The company’s 50 day moving average is $101.73 and its two-hundred day moving average is $112.69.

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.