PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments raised its stake in PDD by 4.3% in Q4, buying 14,954 shares to hold 364,337 shares worth about $41.31 million.
• Shares opened at $104.79 (1‑year range $92.68–$139.41); Wall Street's consensus is a Hold with a $139.67 price target, based on six Buy and nine Hold ratings.

Mirae Asset Global Investments Co. Ltd. raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 364,337 shares of the company's stock after acquiring an additional 14,954 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in PDD were worth $41,312,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PDD. GAMMA Investing LLC increased its stake in PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company's stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Binnacle Investments Inc increased its stake in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company's stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Wexford Capital LP acquired a new position in PDD in the third quarter valued at $44,000. Assetmark Inc. increased its stake in PDD by 314.4% in the third 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. Finally, Larson Financial Group LLC increased its stake in PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company's stock valued at $53,000 after purchasing an additional 353 shares during the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Price Performance

Shares of NASDAQ PDD opened at $104.79 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $92.68 and a 1-year high of $139.41. The business has a 50-day moving average of $102.02 and a 200-day moving average of $113.63. The company has a market capitalization of $145.88 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.98 and a beta of 0.07.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup reiterated a "neutral" rating on shares of PDD in a research note on Wednesday, January 28th. Nomura raised PDD from a "neutral" rating to a "buy" rating and set a $136.00 price target for the company in a research report on Friday, March 27th. Loop Capital set a $170.00 price target on PDD in a research report on Tuesday, January 6th. Arete Research raised PDD from a "neutral" rating to a "buy" rating and set a $121.00 price target for the company in a research report on Friday. Finally, Wall Street Zen downgraded PDD from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, PDD currently has a consensus rating of "Hold" and a consensus price target of $139.67.

PDD Company 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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