PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Matthews International Capital Management LLC

Key Points

• Matthews International Capital Management LLC cut its stake in PDD by 24.9% in Q4, selling 123,162 shares and now holding 370,640 shares worth about $42.03M, which equals 12.8% of the firm's portfolio and is its largest holding.
• Other institutional moves included sizable increases or new positions from TB Alternative Assets, OVERSEA CHINESE BANKING, Nomura and Sumitomo Mitsui, and institutional investors/hedge funds collectively own about 39.83% of PDD.
• PDD trades near $100.87 with a market cap of $140.43B and a P/E of 10.73 (12‑month range $87.11–$139.41), and Wall Street has a consensus Hold rating with an average price target of roughly $140.27.

Matthews International Capital Management LLC decreased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 24.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 370,640 shares of the company's stock after selling 123,162 shares during the quarter. PDD makes up 12.8% of Matthews International Capital Management LLC's investment portfolio, making the stock its biggest holding. Matthews International Capital Management LLC's holdings in PDD were worth $42,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. TB Alternative Assets Ltd. lifted its position in shares of PDD by 62.5% during the 3rd quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company's stock worth $45,716,000 after purchasing an additional 133,000 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of PDD by 17.3% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company's stock worth $48,694,000 after purchasing an additional 54,418 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in PDD in the third quarter valued at $2,790,000. Nomura Holdings Inc. raised its stake in PDD by 67.1% in the second quarter. Nomura Holdings Inc. now owns 173,637 shares of the company's stock valued at $18,173,000 after buying an additional 69,728 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in PDD by 4.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company's stock valued at $227,271,000 after buying an additional 74,225 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Price Performance

PDD stock opened at $100.87 on Friday. The company has a market cap of $140.43 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.95 and a beta of 0.07. The company has a fifty day moving average price of $102.38 and a 200 day moving average price of $115.53. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Citigroup reissued a "neutral" rating on shares of PDD in a research report on Wednesday, January 28th. Nomura upgraded PDD from a "neutral" rating to a "buy" rating and set a $136.00 target price for the company in a research note on Friday, March 27th. Arete Research set a $130.00 price target on PDD in a report on Tuesday, December 9th. Finally, Morgan Stanley set a $148.00 price target on shares of PDD in a research note on Thursday, January 15th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $140.27.

About PDD

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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