AustralianSuper Pty Ltd Buys 6,432 Shares of PDD Holdings Inc. Sponsored ADR $PDD

AustralianSuper Pty Ltd grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 18.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,422 shares of the company’s stock after buying an additional 6,432 shares during the period. AustralianSuper Pty Ltd’s holdings in PDD were worth $5,475,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. boosted its stake in PDD by 398.0% in the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in PDD during the second quarter valued at $28,000. EMC Capital Management acquired a new position in shares of PDD in the 2nd quarter valued at about $52,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of PDD in the second quarter worth about $56,000. Finally, Global Retirement Partners LLC grew its holdings in PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after acquiring an additional 302 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PDD shares. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Bank of America cut their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Morgan Stanley set a $148.00 price objective on shares of PDD in a research report on Thursday, January 15th. Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, PDD has a consensus rating of “Hold” and an average target price of $139.87.

PDD Trading Down 0.1%

Shares of PDD stock opened at $102.70 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The firm has a market capitalization of $142.97 billion, a PE ratio of 10.72, a P/E/G ratio of 0.95 and a beta of 0.02. The firm’s 50-day moving average price is $112.70 and its 200 day moving average price is $120.61.

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.