PDD Holdings Inc. Sponsored ADR $PDD Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 11.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 242,722 shares of the company’s stock after buying an additional 25,369 shares during the quarter. Exchange Traded Concepts LLC’s holdings in PDD were worth $27,522,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. TB Alternative Assets Ltd. raised its position 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 boosted its position in shares of PDD by 17.3% in the 3rd 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 PDD in the 3rd quarter worth about $2,790,000. Nomura Holdings Inc. raised its holdings in PDD by 67.1% during the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after buying an additional 69,728 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in PDD by 4.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company’s stock worth $227,271,000 after buying an additional 74,225 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ:PDD opened at $99.81 on Friday. The stock has a market cap of $138.95 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.89 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. The stock’s 50-day moving average is $102.89 and its two-hundred day moving average is $116.49.

Analyst Ratings Changes

Several research analysts have commented on PDD shares. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Morgan Stanley set a $148.00 price target on shares of PDD in a report on Thursday, January 15th. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a research note on Friday. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Finally, Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $140.27.

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.