Asset Management One Co. Ltd. Sells 47,285 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Asset Management One Co. Ltd. lessened its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 28.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,142 shares of the company’s stock after selling 47,285 shares during the quarter. Asset Management One Co. Ltd.’s holdings in PDD were worth $12,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in PDD by 5.2% in the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company’s stock worth $4,739,595,000 after purchasing an additional 1,987,935 shares in the last quarter. Vanguard Group Inc. raised its holdings in PDD by 1.5% in the first quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company’s stock worth $3,441,556,000 after purchasing an additional 416,867 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock worth $1,706,527,000 after purchasing an additional 14,110,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in PDD by 899.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock worth $1,063,489,000 after purchasing an additional 8,086,620 shares in the last quarter. Finally, H&H International Investment LLC raised its holdings in PDD by 7.3% in the first quarter. H&H International Investment LLC now owns 7,753,900 shares of the company’s stock worth $917,674,000 after purchasing an additional 525,200 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent research reports. Zacks Research raised PDD from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. New Street Research cut PDD from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research note on Tuesday, August 26th. Citigroup reissued a “buy” rating on shares of PDD in a research note on Monday, August 25th. Jefferies Financial Group set a $146.00 target price on PDD and gave the stock a “buy” rating in a research note on Monday, August 25th. Finally, Barclays increased their target price on PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus price target of $137.82.

PDD Stock Up 0.5%

NASDAQ PDD opened at $133.96 on Monday. The stock’s 50-day moving average price is $127.77 and its 200-day moving average price is $114.16. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $136.84. The company has a market capitalization of $186.49 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.58 and a beta of 0.40.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.