GF Fund Management CO. LTD. Increases Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• GF Fund Management increased its stake in PDD by 28.5% in Q4 to 1,019,069 shares (about $115.6 million), making PDD 2.0% of its portfolio and its 11th largest holding.
• Several other large investors also raised or initiated positions (e.g., TB Alternative Assets, Oversea Chinese Banking, Sumitomo Mitsui), and hedge funds/institutions now own 39.83% of PDD.
• Analysts’ consensus is a Hold with an average price target of $139.67, while PDD recently traded around $104.79 and has a 1‑year range of $92.68–$139.41 and a market cap of about $145.9B.

GF Fund Management CO. LTD. increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,019,069 shares of the company's stock after purchasing an additional 226,027 shares during the quarter. PDD accounts for 2.0% of GF Fund Management CO. LTD.'s investment portfolio, making the stock its 11th largest position. GF Fund Management CO. LTD. owned approximately 0.07% of PDD worth $115,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. TB Alternative Assets Ltd. boosted its position in shares of PDD by 62.5% in the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company's stock worth $45,716,000 after acquiring an additional 133,000 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company's stock valued at $48,694,000 after buying an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in PDD in the third quarter valued at approximately $2,790,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of PDD by 4.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company's stock valued at $227,271,000 after purchasing an additional 74,225 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of PDD by 11.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company's stock valued at $27,522,000 after purchasing an additional 25,369 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PDD. Morgan Stanley set a $148.00 price target on shares of PDD in a research note on Thursday, January 15th. Citigroup restated a "neutral" rating on shares of PDD in a research note on Wednesday, January 28th. Nomura upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $136.00 price target for the company in a research note on Friday, March 27th. Loop Capital set a $170.00 price target on shares of PDD in a research note on Tuesday, January 6th. Finally, Wall Street Zen lowered shares of PDD from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of "Hold" and an average price target of $139.67.

PDD Stock Performance

Shares of PDD opened at $104.79 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $92.68 and a 1 year high of $139.41. The company has a market cap of $145.88 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.98 and a beta of 0.07. The firm has a fifty day moving average of $102.02 and a 200-day moving average of $113.63.

PDD Profile

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.

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