Fisher Asset Management LLC Acquires 11,800 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Fisher Asset Management LLC raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 575,944 shares of the company’s stock after purchasing an additional 11,800 shares during the quarter. Fisher Asset Management LLC’s holdings in PDD were worth $76,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PDD. Vanguard Group Inc. boosted its holdings in shares of PDD by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock worth $4,280,289,000 after buying an additional 348,997 shares during the last quarter. Norges Bank bought a new position in shares of PDD during the 2nd quarter valued at approximately $962,785,000. Sanders Capital LLC increased its stake in shares of PDD by 21.5% during the 2nd quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after purchasing an additional 1,508,445 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of PDD by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock worth $646,764,000 after purchasing an additional 240,627 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its holdings in shares of PDD by 25.5% in the 3rd quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock worth $792,431,000 after purchasing an additional 1,247,634 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ:PDD opened at $102.82 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41. The stock has a fifty day moving average of $108.16 and a 200 day moving average of $119.27. The firm has a market capitalization of $143.14 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 0.95 and a beta of -0.01.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PDD shares. 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 report on Wednesday, November 19th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley set a $148.00 price objective on PDD in a report on Thursday, January 15th. Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Company 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.