Swiss National Bank lowered its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 11.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,372,744 shares of the company’s stock after selling 179,900 shares during the period. Swiss National Bank owned approximately 0.10% of PDD worth $140,267,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its position in PDD by 11.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after acquiring an additional 25,369 shares during the last quarter. Step Capital Management Pte. Ltd. acquired a new position in PDD in the 4th quarter valued at $8,504,000. LBP AM SA purchased a new position in shares of PDD during the 4th quarter worth $6,690,000. Geode Capital Management LLC lifted its stake in shares of PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after purchasing an additional 359,921 shares during the period. Finally, Dymon Asia Capital Singapore PTE. LTD. boosted its holdings in shares of PDD by 125.4% during the fourth quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 64,917 shares of the company’s stock worth $7,361,000 after purchasing an additional 36,122 shares during the last quarter. 39.83% of the stock is owned by institutional investors.
PDD Trading Up 2.3%
PDD opened at $86.05 on Tuesday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $71.94 and a twelve month high of $139.41. The firm has a market cap of $122.48 billion and a price-to-earnings ratio of 9.29. The company has a fifty day simple moving average of $85.47 and a 200 day simple moving average of $97.40.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. Jefferies Financial Group restated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Citigroup cut their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. BNP Paribas Exane started coverage on shares of PDD in a report on Monday, June 15th. They issued an “underperform” rating and a $89.00 target price for the company. Morgan Stanley set a $129.00 price target on shares of PDD in a research report on Wednesday, May 27th. Finally, Daiwa Securities Group reaffirmed a “hold” rating and set a $80.00 price target on shares of PDD in a research note on Tuesday, June 23rd. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and a consensus price target of $124.64.
View Our Latest Analysis on PDD
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.
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