Union Bancaire Privee UBP SA Buys 29,770 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Union Bancaire Privee UBP SA raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 51.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,229 shares of the company’s stock after buying an additional 29,770 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in PDD were worth $9,891,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of PDD in the second quarter worth $962,785,000. Himalaya Capital Management LLC bought a new position in PDD in the 2nd quarter worth about $482,273,000. NetEase Inc. purchased a new stake in PDD during the 2nd quarter valued at about $372,117,000. Orbis Allan Gray Ltd grew its position in PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after purchasing an additional 3,250,416 shares during the last quarter. Finally, Aspex Management HK Ltd bought a new stake in PDD during the 3rd quarter valued at about $419,287,000. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PDD. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley set a $148.00 price target on shares of PDD in a research report on Thursday, January 15th. Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PDD has an average rating of “Hold” and an average target price of $140.57.

PDD Trading Down 3.3%

NASDAQ:PDD opened at $97.43 on Friday. The company has a market cap of $135.64 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.89 and a beta of -0.01. The company has a 50 day simple moving average of $104.49 and a two-hundred day simple moving average of $117.51. 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.