Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Mirae Asset Global Investments Co. Ltd. boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 364,337 shares of the company’s stock after purchasing an additional 14,954 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PDD were worth $41,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in PDD by 1.1% in the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock valued at $4,280,289,000 after purchasing an additional 348,997 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after purchasing an additional 5,070,827 shares during the last quarter. First Beijing Investment Ltd boosted its holdings in PDD by 10.6% in the third quarter. First Beijing Investment Ltd now owns 6,168,721 shares of the company’s stock valued at $815,320,000 after purchasing an additional 590,869 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in PDD by 25.5% in the third quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock valued at $792,431,000 after purchasing an additional 1,247,634 shares during the last quarter. Finally, Orbis Allan Gray Ltd boosted its holdings in PDD by 135.6% in the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after purchasing an additional 3,250,416 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Up 1.0%

Shares of PDD stock opened at $104.79 on Friday. The business’s 50 day simple moving average is $102.02 and its 200-day simple moving average is $113.63. The stock has a market capitalization of $145.88 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.98 and a beta of 0.07. PDD Holdings Inc. Sponsored ADR has a twelve month low of $92.68 and a twelve month high of $139.41.

Wall Street Analyst Weigh In

PDD has been the subject of a number of analyst reports. Citigroup reissued a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday. 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 report on Saturday, January 31st. Finally, Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $139.67.

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.