PDD Holdings Inc. Sponsored ADR $PDD is First Beijing Investment Ltd's Largest Position

Key Points

• First Beijing Investment Ltd has increased its stake in PDD Holdings Inc. by 2.4%, making PDD its largest position, accounting for 31.3% of its investment portfolio.
• Multiple hedge funds have added to their holdings in PDD, with significant increases reported by Baillie Gifford & Co. (5.2%) and Mirae Asset Global Investments (9,469.7%).
• PDD Holdings Inc. currently holds a market cap of $174.06 billion and has experienced price fluctuations, with a 12-month low of $87.11 and a high of $155.67.

First Beijing Investment Ltd increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,857,223 shares of the company's stock after purchasing an additional 91,414 shares during the quarter. PDD accounts for 31.3% of First Beijing Investment Ltd's investment portfolio, making the stock its largest position. First Beijing Investment Ltd owned approximately 0.28% of PDD worth $456,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its holdings in PDD by 5.2% during the 1st quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock valued at $4,739,595,000 after acquiring an additional 1,987,935 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in PDD by 9,469.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock valued at $4,695,948,000 after acquiring an additional 39,263,851 shares in the last quarter. Vanguard Group Inc. increased its holdings in PDD by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock valued at $3,441,556,000 after acquiring an additional 416,867 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares in the last quarter. Finally, H&H International Investment LLC increased its holdings in PDD by 7.3% during the 1st quarter. H&H International Investment LLC now owns 7,753,900 shares of the company's stock valued at $917,674,000 after acquiring an additional 525,200 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ PDD opened at $125.03 on Tuesday. The company has a market cap of $174.06 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The company has a 50-day simple moving average of $114.63 and a 200-day simple moving average of $111.11.

Analyst Ratings Changes

PDD has been the subject of several recent research reports. Bank of America raised their target price on shares of PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Barclays lifted their price target on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. China Renaissance reiterated a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 price target on shares of PDD in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and an average price target of $137.82.

PDD 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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