Swiss Life Asset Management Ltd Acquires 22,207 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Swiss Life Asset Management Ltd grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,430 shares of the company’s stock after purchasing an additional 22,207 shares during the period. Swiss Life Asset Management Ltd’s holdings in PDD were worth $10,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PDD. GAMMA Investing LLC raised its holdings in shares of PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Binnacle Investments Inc raised its holdings in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Wexford Capital LP purchased a new stake in shares of PDD in the third quarter valued at about $44,000. Assetmark Inc. raised its holdings in shares of PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ PDD opened at $95.73 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $95.24 and a 52-week high of $139.41. The company has a 50-day simple moving average of $100.62 and a 200 day simple moving average of $110.03. The company has a market capitalization of $136.26 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.93 and a beta of 0.04.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a report on Friday, April 17th. Citigroup reiterated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 target price for the company in a report on Friday, March 27th. Finally, Morgan Stanley set a $148.00 price objective on shares of PDD in a report on Thursday, January 15th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, PDD has a consensus rating of “Hold” and an average target price 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.