UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 8,086,620 Shares of PDD Holdings Inc. Sponsored ADR $PDD

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 grew its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 899.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

Other large investors have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in shares of PDD by 13.0% in the 4th quarter. Cetera Investment Advisers now owns 11,154 shares of the company's stock valued at $1,082,000 after buying an additional 1,280 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of PDD by 12.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 66,400 shares of the company's stock valued at $6,440,000 after buying an additional 7,250 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of PDD by 357.3% in the 4th quarter. Janus Henderson Group PLC now owns 455,266 shares of the company's stock valued at $44,157,000 after buying an additional 355,712 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PDD by 13.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 621,092 shares of the company's stock valued at $60,240,000 after buying an additional 72,674 shares during the last quarter. Finally, Oasis Management Co Ltd. acquired a new stake in shares of PDD in the 4th quarter valued at approximately $3,720,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Performance

Shares of NASDAQ PDD traded down $0.28 during mid-day trading on Friday, reaching $125.44. The company had a trading volume of 4,865,746 shares, compared to its average volume of 10,144,946. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The firm has a market cap of $174.63 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.49 and a beta of 0.46. The business's 50-day simple moving average is $116.35 and its 200 day simple moving average is $111.33.

Wall Street Analysts Forecast Growth

PDD has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Bank of America raised their price target on PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Barclays raised their price target on PDD from $158.00 to $165.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Benchmark reaffirmed a "buy" rating and set a $160.00 price target (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Finally, Macquarie set a $165.00 price objective on PDD and gave the stock an "outperform" rating in a research report on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and a consensus target price of $137.82.

PDD Company 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.