AustralianSuper Pty Ltd Has $8.98 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

AustralianSuper Pty Ltd grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 91.2% in the 4th quarter, Holdings Channel reports. The fund owned 79,200 shares of the company’s stock after purchasing an additional 37,778 shares during the quarter. AustralianSuper Pty Ltd’s holdings in PDD were worth $8,980,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after acquiring an additional 425,908 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares during the period. First Beijing Investment Ltd raised its holdings in PDD by 10.6% during the 3rd quarter. First Beijing Investment Ltd now owns 6,168,721 shares of the company’s stock worth $815,320,000 after buying an additional 590,869 shares during the period. Krane Funds Advisors LLC raised its holdings in PDD by 25.5% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock worth $792,431,000 after buying an additional 1,247,634 shares during the period. Finally, Orbis Allan Gray Ltd raised its holdings in PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after buying an additional 3,250,416 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PDD shares. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. 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 report on Friday, April 17th. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Friday, March 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $137.86.

PDD Stock Up 0.3%

Shares of PDD opened at $95.83 on Friday. The stock has a market capitalization of $136.40 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.90 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a twelve month low of $93.81 and a twelve month high of $139.41. The company has a 50 day moving average of $100.34 and a 200-day moving average of $109.43.

PDD 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.