OVERSEA CHINESE BANKING Corp Ltd Has $45.38 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in PDD by 8.6% in Q4 to 400,127 shares worth $45.38 million, representing about 1.2% of its portfolio and its 20th-largest holding.
• PDD shares opened at $98.99 (down 5.0%); the stock has a market cap of $137.8 billion, a P/E of 10.53 and a 12-month range of $95.24–$139.41, while analysts' consensus is a Hold with an average target of $139.67.
• Institutional investors own about 39.83% of PDD, with major holders including Vanguard (32,384,722 shares) and Assenagon (6,728,909 shares), both recently increasing their positions.

OVERSEA CHINESE BANKING Corp Ltd increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,127 shares of the company's stock after acquiring an additional 31,563 shares during the quarter. PDD comprises about 1.2% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 20th biggest position. OVERSEA CHINESE BANKING Corp Ltd's holdings in PDD were worth $45,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of PDD by 1.1% in the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company's stock valued at $4,280,289,000 after purchasing an additional 348,997 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company's stock worth $762,991,000 after purchasing an additional 5,070,827 shares during the last quarter. First Beijing Investment Ltd boosted its stake in PDD by 10.6% during the 3rd quarter. First Beijing Investment Ltd now owns 6,168,721 shares of the company's stock valued at $815,320,000 after purchasing an additional 590,869 shares during the period. Krane Funds Advisors LLC boosted its stake in PDD by 25.5% during the 3rd quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company's stock valued at $792,431,000 after purchasing an additional 1,247,634 shares during the period. Finally, Orbis Allan Gray Ltd grew its holdings in PDD by 135.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company's stock valued at $591,091,000 after buying an additional 3,250,416 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Down 5.0%

Shares of PDD opened at $98.99 on Wednesday. The stock's 50-day moving average price is $101.87 and its 200 day moving average price is $112.88. The firm has a market capitalization of $137.81 billion, a price-to-earnings ratio of 10.53, a P/E/G ratio of 0.98 and a beta of 0.07. PDD Holdings Inc. Sponsored ADR has a 12-month low of $95.24 and a 12-month high of $139.41.

Analysts Set New Price Targets

PDD has been the topic of several recent analyst reports. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Arete Research upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Friday, April 17th. Wall Street Zen lowered shares of PDD from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Nomura upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $136.00 target price for the company in a research note on Friday, March 27th. Finally, Citigroup reissued a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $139.67.

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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