Sanders Capital LLC Has $892.40 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Sanders Capital LLC boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 21.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,526,610 shares of the company’s stock after acquiring an additional 1,508,445 shares during the period. PDD accounts for 1.2% of Sanders Capital LLC’s holdings, making the stock its 27th biggest position. Sanders Capital LLC owned about 0.61% of PDD worth $892,395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in PDD by 20.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock valued at $6,221,000 after purchasing an additional 10,036 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in PDD by 54.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock worth $3,103,000 after buying an additional 9,206 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of 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 buying an additional 2,573,065 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of PDD during the first quarter worth $537,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of PDD by 25.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 168,590 shares of the company’s stock valued at $19,953,000 after acquiring an additional 34,600 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

Shares of NASDAQ:PDD opened at $130.95 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The stock has a market capitalization of $182.30 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.55 and a beta of 0.47. The company’s 50 day simple moving average is $131.80 and its 200 day simple moving average is $118.29.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $160.00 price target (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the stock a “buy” rating in a report on Monday, August 25th. Bank of America boosted their price target on PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a research note on Tuesday, August 26th. Finally, New Street Research downgraded PDD from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Tuesday, August 26th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average 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.