PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM significantly increased its stake in PDD Holdings Inc. by 899.2%, owning nearly 9 million shares valued at over $1 billion as of the last filing.
• A variety of institutional investors also altered their positions in PDD, with notable increases including Krane Funds Advisors raising its stake by 78.3% and OVERSEA CHINESE BANKING Corp Ltd boosting its holdings by an astounding 4,562.1%.
• The stock currently has a market cap of $174.06 billion and a price-to-earnings ratio of 13.56, with analysts assigning an average target price of $137.82 and a general rating of "Moderate Buy."

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 899.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,985,969 shares of the company's stock after acquiring an additional 8,086,620 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.65% of PDD worth $1,063,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDD. Krane Funds Advisors LLC grew its holdings in shares of PDD by 78.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after purchasing an additional 2,211,286 shares in the last quarter. Myriad Asset Management US LP acquired a new stake in shares of PDD in the 1st quarter valued at about $4,496,000. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after buying an additional 14,110,042 shares in the last quarter. Banco BTG Pactual S.A. acquired a new position in shares of PDD in the first quarter valued at $537,000. Finally, WCM Investment Management LLC lifted its holdings in shares of PDD by 3,127.3% during the first quarter. WCM Investment Management LLC now owns 411,324 shares of the company's stock worth $49,544,000 after buying an additional 398,579 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Performance

NASDAQ:PDD opened at $125.03 on Tuesday. The stock has a fifty day moving average price of $114.63 and a two-hundred day moving average price of $111.11. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67. The stock has a market capitalization of $174.06 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.47 and a beta of 0.46.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent research reports. New Street Research lowered shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 price target on the stock. in a report on Tuesday, August 26th. Barclays lifted their price objective on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Bank of America increased their price objective on PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Finally, Citigroup reaffirmed a "buy" rating on shares of PDD in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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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