SG Americas Securities LLC Boosts Stake in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• SG Americas Securities LLC boosted its stake in PDD by 931.4% in Q4, adding 2,924,176 shares to hold 3,238,126 shares (0.23% of PDD) worth $367,171,000 and making PDD ~0.5% of SG's portfolio (its 26th largest holding).
• PDD shares opened at $96.25, trade in a 12‑month range of $87.11–$139.41, and the company has a market cap of $133.99 billion with a P/E of 10.05 and PEG of 0.85.
• Analysts collectively rate PDD an average of “Hold” (four Buys, ten Holds) with an average price target of $140.57, amid recent targets ranging from $130 to $170 and a downgrade from Wall Street Zen.

SG Americas Securities LLC increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 931.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,238,126 shares of the company's stock after acquiring an additional 2,924,176 shares during the period. PDD makes up approximately 0.5% of SG Americas Securities LLC's portfolio, making the stock its 26th biggest holding. SG Americas Securities LLC owned 0.23% of PDD worth $367,171,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Focus Partners Wealth grew its stake in shares of PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock worth $1,176,000 after purchasing an additional 7,744 shares during the period. Intech Investment Management LLC lifted its stake in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock valued at $1,762,000 after purchasing an additional 395 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of PDD in the second quarter valued at about $56,000. DNB Asset Management AS boosted its holdings in PDD by 9.3% during the second quarter. DNB Asset Management AS now owns 55,801 shares of the company's stock worth $5,840,000 after buying an additional 4,761 shares in the last quarter. Finally, MAI Capital Management grew its position in PDD by 1,961.2% during the second quarter. MAI Capital Management now owns 1,010 shares of the company's stock worth $106,000 after buying an additional 961 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Trading Up 0.1%

Shares of PDD opened at $96.25 on Tuesday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The stock has a market cap of $133.99 billion, a P/E ratio of 10.05, a PEG ratio of 0.85 and a beta of -0.01. The company has a 50-day moving average of $103.55 and a two-hundred day moving average of $117.07.

Analysts Set New Price Targets

PDD has been the subject of a number of research analyst reports. Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on PDD in a report on Thursday, January 15th. Loop Capital set a $170.00 price objective on PDD in a research note on Tuesday, January 6th. Wall Street Zen cut PDD from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Finally, Arete Research set a $130.00 target price on PDD in a research report on Tuesday, December 9th. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, PDD presently has an average rating of "Hold" and an average price target of $140.57.

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.

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.