PKO Investment Management Joint Stock Co Raises Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

PKO Investment Management Joint Stock Co grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 66.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in PDD were worth $2,835,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PDD. Assenagon Asset Management S.A. grew its stake in PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after acquiring an additional 5,070,827 shares during the period. Himalaya Capital Management LLC acquired a new position in PDD during the second quarter worth $482,273,000. Orbis Allan Gray Ltd raised its position in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after acquiring an additional 3,250,416 shares during the period. Aspex Management HK Ltd purchased a new position in PDD during the third quarter valued at $419,287,000. Finally, SG Americas Securities LLC lifted its holdings in PDD by 931.4% during the fourth quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company’s stock valued at $367,171,000 after purchasing an additional 2,924,176 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Friday, March 27th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Loop Capital set a $170.00 price objective on PDD in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $148.00 target price on PDD in a report on Thursday, January 15th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.67.

PDD Stock Down 0.2%

PDD stock opened at $99.72 on Friday. The company has a fifty day simple moving average of $101.41 and a 200-day simple moving average of $111.42. The firm has a market capitalization of $138.83 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.94 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a 52-week low of $95.24 and a 52-week high of $139.41.

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.