PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Candriam S.C.A.

Candriam S.C.A. raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 158.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,000 shares of the company’s stock after purchasing an additional 107,200 shares during the period. Candriam S.C.A.’s holdings in PDD were worth $23,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. TB Alternative Assets Ltd. boosted its holdings in shares of PDD by 62.5% in the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock valued at $45,716,000 after acquiring an additional 133,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its position in PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock valued at $48,694,000 after purchasing an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of PDD during the 3rd quarter worth approximately $2,790,000. Nomura Holdings Inc. raised its position in PDD by 67.1% in the second quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after acquiring an additional 69,728 shares in the last quarter. Finally, Freemont Capital Pte Ltd boosted its holdings in PDD by 19.2% during the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after buying an additional 5,000 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

NASDAQ PDD opened at $105.57 on Tuesday. The stock’s 50-day moving average is $111.01 and its two-hundred day moving average is $120.41. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The firm has a market cap of $146.97 billion and a P/E ratio of 11.02.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PDD. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Sanford C. Bernstein set a $135.00 price objective on PDD in a report on Tuesday, November 18th. Finally, Zacks Research lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.87.

PDD 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.