Y Intercept Hong Kong Ltd Makes New Investment in PDD Holdings Inc. Sponsored ADR $PDD

Y Intercept Hong Kong Ltd acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,087 shares of the company’s stock, valued at approximately $6,917,000.

Several other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in PDD by 5.2% during the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company’s stock worth $4,739,595,000 after buying an additional 1,987,935 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of PDD by 1.5% during the first quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company’s stock valued at $3,441,556,000 after purchasing an additional 416,867 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of PDD by 4,562.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of PDD by 899.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock valued at $1,063,489,000 after purchasing an additional 8,086,620 shares during the last quarter. Finally, H&H International Investment LLC grew its stake in shares of PDD by 7.3% during the first quarter. H&H International Investment LLC now owns 7,753,900 shares of the company’s stock valued at $917,674,000 after purchasing an additional 525,200 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

PDD opened at $137.76 on Tuesday. The firm’s fifty day moving average is $128.15 and its two-hundred day moving average is $114.47. The firm has a market cap of $191.78 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.58 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $138.75.

Wall Street Analyst Weigh In

Several research firms have recently commented on PDD. Macquarie set a $165.00 price target on shares of PDD and gave the company an “outperform” rating in a research note on Monday, August 25th. Zacks Research raised shares of PDD from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. Benchmark reissued a “buy” rating and set a $160.00 price target (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group set a $146.00 price objective on shares of PDD and gave the company a “buy” rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $137.82.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.