Temasek Holdings Private Ltd Raises Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Temasek Holdings Private Ltd grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 199.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,348,247 shares of the company’s stock after buying an additional 2,896,293 shares during the period. PDD accounts for 2.0% of Temasek Holdings Private Ltd’s investment portfolio, making the stock its 13th largest holding. Temasek Holdings Private Ltd’s holdings in PDD were worth $574,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Assetmark Inc. raised its stake in PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. Global Retirement Partners LLC lifted its position in PDD by 215.7% in the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. Westside Investment Management Inc. boosted its stake in PDD by 79.9% in the third quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock valued at $60,000 after acquiring an additional 199 shares in the last quarter. EMC Capital Management purchased a new position in shares of PDD during the second quarter worth about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of PDD during the second quarter worth about $56,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PDD. Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Arete Research set a $130.00 price target on PDD in a research note on Tuesday, December 9th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Trading Up 1.0%

NASDAQ PDD opened at $102.65 on Friday. The stock has a market capitalization of $142.90 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.90 and a beta of -0.01. The business’s 50 day moving average is $106.05 and its two-hundred day moving average is $118.08. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41.

About PDD

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.