Swiss National Bank Grows Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Swiss National Bank lifted its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,600,444 shares of the company’s stock after acquiring an additional 26,600 shares during the quarter. Swiss National Bank’s holdings in PDD were worth $211,531,000 at the end of the most recent reporting period.

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

PDD Stock Up 0.7%

PDD stock opened at $102.64 on Tuesday. The business has a 50 day moving average price of $106.94 and a 200 day moving average price of $118.64. The stock has a market cap of $142.89 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Arete Research set a $130.00 price objective on PDD in a report on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 target price on PDD in a report on Tuesday, November 18th. Loop Capital set a $170.00 target price on PDD in a research report on Tuesday, January 6th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Morgan Stanley set a $148.00 price target on shares of PDD in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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.