Mitsubishi UFJ Asset Management Co. Ltd. Acquires 42,973 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Mitsubishi UFJ Asset Management raised its stake in PDD by 5.3%, buying 42,973 shares to hold 860,912 shares worth about $99.65 million (roughly 0.06% of the company).
• PDD shares opened at $101.51, trade in a one‑year range of $95.24–$139.41, and the company has a market cap of $141.32 billion with a P/E of 10.8.
• Analysts have a consensus rating of Hold with an average target of $139.67 (six Buy, nine Hold), and institutional investors own about 39.83% of the stock while several large funds recently increased positions.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 860,912 shares of the company's stock after purchasing an additional 42,973 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of PDD worth $99,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of PDD by 17.3% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company's stock worth $48,694,000 after acquiring an additional 54,418 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of PDD during the third quarter worth $2,790,000. Sumitomo Mitsui Trust Group Inc. boosted its position 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 worth $227,271,000 after acquiring an additional 74,225 shares during the last quarter. Exchange Traded Concepts LLC boosted its position 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 worth $27,522,000 after acquiring an additional 25,369 shares during the last quarter. Finally, Rakuten Investment Management Inc. bought a new position in shares of PDD during the third quarter worth $18,311,000. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

Shares of PDD opened at $101.51 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $95.24 and a 1 year high of $139.41. The company has a market capitalization of $141.32 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.96 and a beta of 0.04. The business has a 50-day moving average of $101.07 and a 200-day moving average of $110.73.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of research reports. Citigroup restated a "neutral" rating on shares of PDD in a research report on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on shares of PDD in a research note on Thursday, January 15th. Wall Street Zen downgraded shares of PDD from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Arete Research raised shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 price target on the stock in a research note on Friday, April 17th. Finally, Nomura raised shares of PDD from a "neutral" rating to a "buy" rating and set a $136.00 price target on the stock in a research note on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $139.67.

About PDD

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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