PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Swiss National Bank

Key Points

• Swiss National Bank increased its position in PDD by 1.7% in Q3 to 1,600,444 shares (about $211.53 million), representing roughly 0.11% ownership of the company.
• Analyst sentiment is mostly cautious with an average rating of "Hold" and a consensus price target of $139.87 (four Buy ratings vs. eleven Hold ratings).
• Several smaller asset managers added or initiated stakes in PDD while overall institutional/hedge fund ownership is about 39.83%; the stock trades near $102.64 with a market cap of $142.89 billion and a P/E of 10.71.

Swiss National Bank lifted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,600,444 shares of the company's stock after acquiring an additional 26,600 shares during the period. Swiss National Bank owned 0.11% of PDD worth $211,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Assetmark Inc. raised its stake in PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company's stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Global Retirement Partners LLC boosted its stake in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company's stock worth $58,000 after purchasing an additional 302 shares during the last quarter. Westside Investment Management Inc. boosted its stake in PDD by 79.9% during the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company's stock worth $60,000 after purchasing an additional 199 shares during the last quarter. EMC Capital Management purchased a new stake in shares of PDD during the second quarter worth $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of PDD in the second quarter valued at about $56,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PDD shares. Arete Research set a $130.00 price target on shares of PDD in a research report on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research note on Tuesday, November 18th. Bank of America lowered their target price on PDD from $141.00 to $140.00 and set a "neutral" rating on the stock in a report on Wednesday, November 19th. Loop Capital set a $170.00 price target on PDD in a research report on Tuesday, January 6th. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $139.87.

PDD Trading Up 0.7%

NASDAQ PDD opened at $102.64 on Tuesday. The stock has a fifty day simple moving average of $106.94 and a 200-day simple moving average of $118.64. The stock has a market cap of $142.89 billion, a PE ratio of 10.71, a P/E/G ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month 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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