PDD Holdings Inc. Sponsored ADR $PDD Position Raised by Kora Management LP

Key Points

• Kora Management LP raised its PDD stake by 33.3% in Q3 to 604,250 shares (about $79.86 million), making PDD its fourth-largest holding at 8.5% of the firm's assets.
• Analysts have an average rating of Hold on PDD with an average price target of $139.87 (four Buy vs. eleven Hold ratings).
• PDD recently traded around $103.84, implying a market cap of $144.56 billion and a P/E of 10.84, with a 52-week range of $87.11–$139.41.

Kora Management LP raised its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 33.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 604,250 shares of the company's stock after buying an additional 151,000 shares during the quarter. PDD comprises about 8.5% of Kora Management LP's holdings, making the stock its 4th largest position. Kora Management LP's holdings in PDD were worth $79,864,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PDD. Larson Financial Group LLC increased its stake in PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company's stock worth $53,000 after acquiring an additional 353 shares during the last quarter. Hidden Lake Asset Management LP bought a new stake in shares of PDD during the 3rd quarter valued at about $15,972,000. Holocene Advisors LP bought a new stake in shares of PDD during the 3rd quarter valued at about $11,040,000. Focus Partners Wealth grew its holdings in shares of PDD by 17.7% during the third quarter. Focus Partners Wealth now owns 13,744 shares of the company's stock worth $1,817,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Bamco Inc. NY grew its holdings in shares of PDD by 16.1% during the third quarter. Bamco Inc. NY now owns 62,386 shares of the company's stock worth $8,246,000 after purchasing an additional 8,643 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PDD. Morgan Stanley set a $148.00 target price on shares of PDD in a research note on Thursday, January 15th. Citigroup reissued a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Wall Street Zen downgraded shares of PDD from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Finally, Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a "neutral" rating for the company in a research report on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, PDD has an average rating of "Hold" and an average price target of $139.87.

PDD Trading Up 1.2%

Shares of NASDAQ PDD opened at $103.84 on Tuesday. The stock's 50-day moving average is $105.74 and its 200 day moving average is $117.88. The stock has a market cap of $144.56 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41.

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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