Newlands Management Operations LLC Grows Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Newlands Management Operations LLC raised its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 121.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,050 shares of the company’s stock after buying an additional 6,612 shares during the quarter. PDD comprises 0.0% of Newlands Management Operations LLC’s portfolio, making the stock its 20th largest holding. Newlands Management Operations LLC’s holdings in PDD were worth $1,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TB Alternative Assets Ltd. grew its position in 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 acquiring an additional 133,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position 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 purchasing an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in PDD during the third quarter valued at approximately $2,790,000. Nomura Holdings Inc. lifted its stake in shares of PDD by 67.1% in the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after purchasing an additional 69,728 shares during the last quarter. Finally, Freemont Capital Pte Ltd boosted its holdings in shares of PDD by 19.2% in the 2nd quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after purchasing an additional 5,000 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PDD shares. Morgan Stanley set a $148.00 target price on PDD in a research report on Thursday, January 15th. Bank of America dropped their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research note on Tuesday, November 18th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Arete Research set a $130.00 price target on shares of PDD in a report on Tuesday, December 9th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Stock Up 1.0%

PDD opened at $102.65 on Friday. The business has a fifty day moving average of $106.05 and a 200 day moving average of $118.08. The stock has a market cap of $142.90 billion, a P/E ratio of 10.72, a PEG ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41.

PDD Company 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.