Pictet Asset Management Holding SA Trims Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Pictet Asset Management trimmed its position in PDD by 2.5% in Q4, selling 31,512 shares and now holds 1,231,832 ADRs (0.09% of the company) worth about $139.7 million.
• Other institutions moved as well — Vanguard increased its stake to 32.81 million shares (~$3.72 billion) and institutional ownership stands at ~39.83% — while analysts have a consensus rating of Hold with a consensus price target of $139.67.

Pictet Asset Management Holding SA lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,231,832 shares of the company's stock after selling 31,512 shares during the period. Pictet Asset Management Holding SA owned 0.09% of PDD worth $139,677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of PDD by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company's stock worth $3,720,397,000 after acquiring an additional 425,908 shares during the period. Polaris Capital Management LLC purchased a new position in shares of PDD during the 4th quarter worth $646,000. Sava Infond d.o.o. raised its holdings in shares of PDD by 13.3% during the 4th quarter. Sava Infond d.o.o. now owns 9,400 shares of the company's stock worth $1,066,000 after acquiring an additional 1,100 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in shares of PDD by 41.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 40,052 shares of the company's stock worth $4,541,000 after acquiring an additional 11,695 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG raised its holdings in shares of PDD by 113.5% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 58,208 shares of the company's stock worth $6,600,000 after acquiring an additional 30,945 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered PDD from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Citigroup restated a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Arete Research upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. Nomura upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $136.00 price objective on the stock in a report on Friday, March 27th. Finally, Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, PDD has a consensus rating of "Hold" and a consensus price target of $139.67.

PDD Stock Performance

Shares of PDD stock opened at $98.47 on Tuesday. PDD Holdings Inc. Sponsored ADR has a one year low of $95.24 and a one year high of $139.41. The company has a market cap of $137.09 billion, a PE ratio of 10.48, a P/E/G ratio of 0.92 and a beta of 0.07. The business has a 50-day simple moving average of $101.65 and a 200-day simple moving average of $111.91.

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.

Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.