OPTIMAS CAPITAL Ltd Takes Position in PDD Holdings Inc. Sponsored ADR $PDD

OPTIMAS CAPITAL Ltd purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 32,549 shares of the company’s stock, valued at approximately $4,302,000. PDD accounts for about 2.7% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 13th largest holding.

Other hedge funds have also bought and sold shares of the company. TB Alternative Assets Ltd. grew its holdings in shares of PDD by 62.5% in the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock worth $45,716,000 after purchasing an additional 133,000 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in PDD by 17.3% in the 3rd 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 period. Campbell & CO Investment Adviser LLC bought a new position in PDD in the 3rd quarter worth about $2,790,000. Nomura Holdings Inc. increased its position in shares of PDD by 67.1% during 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 period. Finally, Freemont Capital Pte Ltd raised its stake in shares of PDD by 19.2% during the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock valued at $3,244,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PDD. Arete Research set a $130.00 target price on PDD in a research report on Tuesday, December 9th. Bank of America decreased their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Morgan Stanley set a $148.00 target price on shares of PDD in a research report on Thursday, January 15th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Stock Performance

NASDAQ:PDD opened at $105.23 on Monday. The company’s 50-day simple moving average is $111.26 and its 200-day simple moving average is $120.50. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The stock has a market capitalization of $146.50 billion and a P/E ratio of 10.98.

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.