602,262 Shares in PDD Holdings Inc. Sponsored ADR $PDD Purchased by True Light Capital Pte. Ltd.

True Light Capital Pte. Ltd. acquired a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 602,262 shares of the company’s stock, valued at approximately $68,290,000. PDD accounts for approximately 30.8% of True Light Capital Pte. Ltd.’s investment portfolio, making the stock its biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Focus Partners Wealth grew its stake in PDD by 352.8% in 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 in the last quarter. Intech Investment Management LLC grew its stake in PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after acquiring an additional 395 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in PDD by 62.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock worth $174,000 after acquiring an additional 637 shares in the last quarter. Cerity Partners LLC grew its stake in PDD by 2.0% in the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after acquiring an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in PDD by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after acquiring an additional 369 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $94.97 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $93.81 and a 52-week high of $139.41. The firm’s 50 day moving average price is $100.23 and its 200-day moving average price is $108.93. The company has a market cap of $135.18 billion, a PE ratio of 10.10, a P/E/G ratio of 0.90 and a beta of 0.04.

Analysts Set New Price Targets

A number of brokerages have commented on PDD. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Friday, April 17th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 target price on the stock in a research note on Friday, March 27th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $137.86.

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.