Mitsubishi UFJ Trust & Banking Corp Purchases 649,524 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Mitsubishi UFJ Trust & Banking Corp grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 34.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,523,266 shares of the company’s stock after buying an additional 649,524 shares during the period. PDD accounts for about 0.7% of Mitsubishi UFJ Trust & Banking Corp’s portfolio, making the stock its 15th largest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in PDD were worth $333,500,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Bank of America lowered their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup reissued a “buy” rating on shares of PDD in a report on Tuesday. Finally, Arete Research set a $130.00 target price on PDD in a report on Tuesday, December 9th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $139.87.

PDD Stock Performance

PDD stock opened at $106.38 on Friday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The firm’s fifty day moving average is $113.90 and its 200 day moving average is $120.63. The firm has a market cap of $148.10 billion, a PE ratio of 11.10, a P/E/G ratio of 0.99 and a beta of 0.02.

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.