Pathway Capital Management LP Purchases Shares of 7,197 PDD Holdings Inc. Sponsored ADR $PDD

Pathway Capital Management LP acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 7,197 shares of the company’s stock, valued at approximately $951,000. PDD makes up about 4.7% of Pathway Capital Management LP’s holdings, making the stock its 5th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Norges Bank bought a new position in shares of PDD in the second quarter worth approximately $962,785,000. Himalaya Capital Management LLC purchased a new stake in PDD in the 2nd quarter worth $482,273,000. NetEase Inc. bought a new stake in PDD during the 2nd quarter valued at approximately $372,117,000. Orbis Allan Gray Ltd boosted its position in shares of 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 last quarter. Finally, Vanguard Group Inc. lifted its stake in PDD by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock worth $3,352,859,000 after purchasing an additional 2,956,249 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PDD. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America reduced their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Arete Research set a $130.00 target price on PDD in a research report on Tuesday, December 9th. Finally, Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, PDD currently has an average rating of “Hold” and a consensus price target of $139.87.

PDD Price Performance

Shares of PDD stock opened at $103.49 on Tuesday. The company has a market capitalization of $144.07 billion and a P/E ratio of 10.80. The company’s 50-day simple moving average is $112.25 and its two-hundred day simple moving average is $120.79. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41.

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.