Vanguard Group Inc. Purchases 425,908 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Vanguard Group Inc. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 32,810,630 shares of the company’s stock after acquiring an additional 425,908 shares during the quarter. Vanguard Group Inc.’s holdings in PDD were worth $3,720,397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Binnacle Investments Inc grew its stake in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC grew its stake in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after acquiring an additional 238 shares during the period. Wexford Capital LP bought a new position in shares of PDD during the 3rd quarter worth $44,000. Assetmark Inc. grew its stake in shares of 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 during the period. Finally, Larson Financial Group LLC grew its stake in shares of PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after acquiring an additional 353 shares during the period. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the subject of several research reports. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Morgan Stanley set a $148.00 price objective on PDD in a report on Thursday, January 15th. Finally, Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a report on Friday, March 27th. Six equities research 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 currently has a consensus rating of “Hold” and an average price target of $139.67.

PDD Price Performance

PDD opened at $98.47 on Tuesday. The stock’s 50 day simple moving average is $101.65 and its 200 day simple moving average is $111.91. PDD Holdings Inc. Sponsored ADR has a 1 year low of $95.24 and a 1 year high of $139.41. The firm has a market cap of $137.09 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.92 and a beta of 0.07.

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.