PDD Holdings Inc. Sponsored ADR $PDD Stake Increased by Barings LLC

Barings LLC lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 539,000 shares of the company’s stock after buying an additional 55,513 shares during the period. PDD comprises approximately 1.4% of Barings LLC’s portfolio, making the stock its 11th biggest position. Barings LLC’s holdings in PDD were worth $71,240,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PDD. Focus Partners Wealth boosted its position in PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after acquiring an additional 7,744 shares during the period. Intech Investment Management LLC boosted its holdings in shares of PDD by 2.7% during the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of PDD by 15.2% during the second quarter. Rehmann Capital Advisory Group now owns 2,495 shares of the company’s stock worth $261,000 after purchasing an additional 330 shares during the period. SSA Swiss Advisors AG purchased a new position in PDD during the second quarter valued at approximately $2,872,000. Finally, Envestnet Asset Management Inc. increased its stake in PDD by 6.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,559 shares of the company’s stock valued at $2,152,000 after buying an additional 1,186 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD stock opened at $104.94 on Friday. The stock’s 50 day simple moving average is $108.57 and its 200 day simple moving average is $119.59. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The company has a market capitalization of $146.09 billion and a price-to-earnings ratio of 10.95.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PDD. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Bank of America reduced their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Sanford C. Bernstein set a $135.00 target price on PDD in a research report on Tuesday, November 18th. Morgan Stanley set a $148.00 price target on PDD in a report on Thursday, January 15th. Finally, Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, PDD currently has a consensus rating of “Hold” and an average target price of $139.87.

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.