PDD Holdings Inc. Sponsored ADR $PDD Position Increased by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in PDD by 11.7% to 242,722 shares, worth about $27.52 million according to its latest 13F filing.
• Other institutions made large buys—SG Americas Securities and Assenagon Asset Management grew holdings to roughly 3.24 million and 6.73 million shares respectively—and institutional investors now own about 39.83% of PDD.
• PDD shares trade near $99.81 with a market cap of $138.95 billion and a P/E of 10.62; analysts' consensus is a "Hold" with an average price target of $140.27.

Exchange Traded Concepts LLC boosted its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,722 shares of the company's stock after buying an additional 25,369 shares during the period. Exchange Traded Concepts LLC's holdings in PDD were worth $27,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Q Fund Management Hong Kong Ltd bought a new stake in PDD in the 4th quarter valued at about $283,000. Global X Japan Co. Ltd. grew its position in PDD by 36.9% in the 4th quarter. Global X Japan Co. Ltd. now owns 222,147 shares of the company's stock worth $25,189,000 after purchasing an additional 59,896 shares during the last quarter. SG Americas Securities LLC grew its position in PDD by 931.4% in the 4th quarter. SG Americas Securities LLC now owns 3,238,126 shares of the company's stock worth $367,171,000 after purchasing an additional 2,924,176 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company's stock valued at $762,991,000 after purchasing an additional 5,070,827 shares during the period. Finally, Tuttle Capital Management LLC raised its holdings in shares of PDD by 37.9% during the fourth quarter. Tuttle Capital Management LLC now owns 8,866 shares of the company's stock valued at $1,005,000 after buying an additional 2,438 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Down 0.8%

Shares of PDD stock opened at $99.81 on Friday. The stock has a 50-day simple moving average of $102.89 and a 200 day simple moving average of $116.49. The stock has a market capitalization of $138.95 billion, a P/E ratio of 10.62, a P/E/G ratio of 0.89 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

Analysts Set New Price Targets

Several analysts recently commented on the company. Wall Street Zen cut PDD from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Morgan Stanley set a $148.00 price target on PDD in a research note on Thursday, January 15th. Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Arete Research set a $130.00 price objective on shares of PDD in a research note on Tuesday, December 9th. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, PDD currently has a consensus rating of "Hold" and an average target price of $140.27.

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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