PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 289,419 shares of the company’s stock after acquiring an additional 27,241 shares during the period. Handelsbanken Fonder AB’s holdings in PDD were worth $32,817,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PDD. 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 valued at $32,000 after buying an additional 238 shares during the period. 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 valued at $36,000 after buying an additional 200 shares during the period. Wexford Capital LP purchased a new stake in shares of PDD during the 3rd quarter valued at $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 valued at $53,000 after buying 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 valued at $53,000 after buying an additional 353 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 2.5%

Shares of PDD stock opened at $97.34 on Wednesday. The company has a fifty day moving average price of $100.13 and a 200 day moving average price of $108.64. PDD Holdings Inc. Sponsored ADR has a twelve month low of $93.81 and a twelve month high of $139.41. The stock has a market cap of $138.55 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 0.89 and a beta of 0.04.

Wall Street Analyst Weigh In

PDD has been the subject of several research reports. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. 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 note on Friday, March 27th. Finally, Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Friday, April 17th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $137.86.

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.