WIM INVESTMENT MANAGEMENT Ltd Sells 106,500 Shares of PDD Holdings Inc. Sponsored ADR $PDD

WIM INVESTMENT MANAGEMENT Ltd trimmed its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 40.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 157,968 shares of the company’s stock after selling 106,500 shares during the quarter. PDD comprises approximately 5.5% of WIM INVESTMENT MANAGEMENT Ltd’s portfolio, making the stock its 7th largest holding. WIM INVESTMENT MANAGEMENT Ltd’s holdings in PDD were worth $16,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PDD. OVERSEA CHINESE BANKING Corp Ltd increased its holdings 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 acquiring an additional 14,110,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PDD by 899.2% during the 1st 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 in the last quarter. Hhlr Advisors LTD. raised its position in PDD by 140.4% in the 1st quarter. Hhlr Advisors LTD. now owns 6,562,576 shares of the company’s stock valued at $776,681,000 after buying an additional 3,832,301 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in PDD by 53.4% during the second quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock worth $773,878,000 after acquiring an additional 2,573,065 shares during the period. Finally, Orbis Allan Gray Ltd grew its stake in PDD by 2,354.9% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,397,312 shares of the company’s stock valued at $283,722,000 after purchasing an additional 2,299,659 shares during the period. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Macquarie set a $165.00 price target on shares of PDD and gave the stock an “outperform” rating in a report on Monday, August 25th. Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Finally, Citigroup restated a “buy” rating on shares of PDD in a research note on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, PDD currently has an average rating of “Hold” and an average target price of $137.82.

PDD Price Performance

Shares of PDD stock opened at $135.78 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The business’s fifty day moving average price is $130.56 and its two-hundred day moving average price is $117.02. The company has a market capitalization of $189.03 billion, a P/E ratio of 14.73, a PEG ratio of 1.62 and a beta of 0.47.

About PDD

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.