True Light Capital Pte. Ltd. Makes New Investment in PDD Holdings Inc. Sponsored ADR $PDD

True Light Capital Pte. Ltd. purchased a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 602,262 shares of the company’s stock, valued at approximately $68,290,000. PDD makes up approximately 30.8% of True Light Capital Pte. Ltd.’s investment portfolio, making the stock its biggest holding.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in PDD by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after purchasing an additional 425,908 shares in the last quarter. Assenagon Asset Management S.A. raised its position 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 valued at $762,991,000 after buying an additional 5,070,827 shares in the last quarter. First Beijing Investment Ltd raised its position in shares of PDD by 10.6% during the 3rd quarter. First Beijing Investment Ltd now owns 6,168,721 shares of the company’s stock valued at $815,320,000 after buying an additional 590,869 shares in the last quarter. Krane Funds Advisors LLC raised its position in shares of PDD by 25.5% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock valued at $792,431,000 after buying an additional 1,247,634 shares in the last quarter. Finally, Orbis Allan Gray Ltd raised its position 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 valued at $591,091,000 after buying an additional 3,250,416 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $94.97 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $93.81 and a 1-year high of $139.41. The firm has a market capitalization of $135.18 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.90 and a beta of 0.04. The company’s 50-day moving average is $100.23 and its 200 day moving average is $108.93.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PDD shares. Nomura upgraded 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. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Arete Research upgraded 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. Finally, Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.86.

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.