PDD Holdings Inc. Sponsored ADR $PDD Position Trimmed by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. decreased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 340,228 shares of the company’s stock after selling 5,660 shares during the period. PDD accounts for 6.3% of TB Alternative Assets Ltd.’s portfolio, making the stock its 5th largest position. TB Alternative Assets Ltd.’s holdings in PDD were worth $38,578,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PDD. OVERSEA CHINESE BANKING Corp Ltd raised its stake in PDD by 17.3% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock valued at $48,694,000 after buying an additional 54,418 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of PDD in the third quarter worth $2,790,000. Nomura Holdings Inc. grew its stake in shares of PDD by 67.1% in the second quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after acquiring an additional 69,728 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of PDD by 4.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company’s stock valued at $227,271,000 after acquiring an additional 74,225 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of PDD during the third quarter valued at $18,311,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $101.78 on Thursday. The stock has a market capitalization of $141.69 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.96 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The business has a fifty day moving average price of $102.59 and a 200-day moving average price of $115.91.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PDD shares. Nomura upgraded 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. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Finally, Morgan Stanley set a $148.00 price target on shares of PDD in a report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $140.27.

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.