Acadian Asset Management LLC Has $47.95 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Acadian Asset Management LLC reduced its stake in PDD Holdings by 16.1%, now holding 405,264 shares valued at approximately $47.95 million.
• Institutional investors now own 39.83% of PDD's stock, with notable increases from firms like UBS Asset Management, which raised its holdings by 899.2%.
• PDD's stock trading saw a 1.1% decline, with a current market cap of $173.57 billion and a consensus target price of $137.82.

Acadian Asset Management LLC cut its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 16.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 405,264 shares of the company's stock after selling 77,925 shares during the period. Acadian Asset Management LLC's holdings in PDD were worth $47,950,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. IFM Investors Pty Ltd grew its stake in shares of PDD by 6.7% in the first quarter. IFM Investors Pty Ltd now owns 27,776 shares of the company's stock valued at $3,287,000 after acquiring an additional 1,740 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock valued at $1,762,000 after acquiring an additional 395 shares in the last quarter. Focus Partners Wealth grew its stake in shares of PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock valued at $1,176,000 after acquiring an additional 7,744 shares in 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% in 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 acquiring an additional 8,086,620 shares in the last quarter. Finally, First Beijing Investment Ltd grew its stake in shares of PDD by 2.4% in the first quarter. First Beijing Investment Ltd now owns 3,857,223 shares of the company's stock valued at $456,502,000 after acquiring an additional 91,414 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Down 1.1%

PDD opened at $124.68 on Thursday. The company's 50 day moving average is $115.46 and its 200-day moving average is $111.30. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67. The company has a market cap of $173.57 billion, a P/E ratio of 13.52, a PEG ratio of 1.49 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PDD shares. Benchmark restated a "buy" rating and issued a $160.00 price target (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. China Renaissance reiterated a "hold" rating and set a $107.00 price objective on shares of PDD in a research note on Wednesday, May 28th. Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. JPMorgan Chase & Co. reduced their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Bank of America increased their price objective on shares of PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" 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.

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