PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 6.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 756,387 shares of the company’s stock after acquiring an additional 48,169 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of PDD worth $79,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Panview Capital Ltd lifted its position in shares of PDD by 44.2% during the second quarter. Panview Capital Ltd now owns 231,700 shares of the company’s stock worth $24,250,000 after purchasing an additional 71,000 shares in the last quarter. Aviva PLC increased its stake in PDD by 1.5% during the 2nd quarter. Aviva PLC now owns 618,819 shares of the company’s stock worth $64,766,000 after buying an additional 9,121 shares during the period. Yunqi Capital Ltd acquired a new stake in PDD during the 2nd quarter worth approximately $10,989,000. Summit Investment Advisors Inc. lifted its holdings in PDD by 2.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 21,850 shares of the company’s stock worth $2,586,000 after buying an additional 599 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in PDD by 32.3% in the 2nd quarter. AE Wealth Management LLC now owns 8,213 shares of the company’s stock valued at $860,000 after buying an additional 2,004 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $135.78 on Monday. The stock’s fifty day moving average is $130.56 and its two-hundred day moving average is $117.27. The stock has a market cap of $189.03 billion, a PE ratio of 14.73, a P/E/G ratio of 1.60 and a beta of 0.47. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays increased their price objective on PDD from $158.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Macquarie set a $165.00 price target on PDD and gave the stock an “outperform” rating in a report on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Benchmark restated a “buy” rating and set a $160.00 target price (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $137.82.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.