Maxi Investments CY Ltd Makes New Investment in PDD Holdings Inc. Sponsored ADR $PDD

Maxi Investments CY Ltd bought a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,308 shares of the company’s stock, valued at approximately $1,622,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd increased its stake in PDD by 17.3% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock worth $48,694,000 after acquiring an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of PDD during the 3rd quarter valued at $2,790,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of PDD by 4.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company’s stock worth $227,271,000 after purchasing an additional 74,225 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of PDD by 11.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after purchasing an additional 25,369 shares in the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of PDD in the third quarter worth $18,311,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 0.8%

Shares of PDD opened at $101.51 on Friday. The stock has a market cap of $141.32 billion, a PE ratio of 10.80, a PEG ratio of 0.96 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a 12-month low of $95.24 and a 12-month high of $139.41. The business has a 50-day simple moving average of $101.07 and a two-hundred day simple moving average of $110.73.

Analyst Ratings Changes

PDD has been the subject of several recent analyst reports. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Friday, March 27th. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Friday, April 17th. Morgan Stanley set a $148.00 price objective on shares of PDD in a research report on Thursday, January 15th. Finally, Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $139.67.

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.