Sumitomo Mitsui Trust Group Inc. Has $190.74 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Sumitomo Mitsui Trust Group trimmed its stake in PDD by 2.2% in Q4, selling 37,341 shares and now holds 1,682,194 shares valued at $190.74 million (about 0.12% of the company).
• Several large institutions notably increased positions—Vanguard, Assenagon (added ~5.07M shares), First Beijing, Krane and Orbis Allan Gray among them—and institutional/hedge fund ownership stands at roughly 39.83%.
• Analysts' consensus is a Hold with an average target price of $140.27; PDD trades near $100 with a market cap of ~$139.5B, a P/E of 10.66, and a 52-week range of $87.97–$139.41.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,682,194 shares of the company's stock after selling 37,341 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.12% of PDD worth $190,744,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in PDD by 1.1% during the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company's stock worth $4,280,289,000 after purchasing an additional 348,997 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company's stock worth $762,991,000 after purchasing an additional 5,070,827 shares during the last quarter. First Beijing Investment Ltd boosted its holdings in PDD by 10.6% during the third quarter. First Beijing Investment Ltd now owns 6,168,721 shares of the company's stock worth $815,320,000 after purchasing an additional 590,869 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in PDD by 25.5% during the third quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company's stock worth $792,431,000 after purchasing an additional 1,247,634 shares during the last quarter. Finally, Orbis Allan Gray Ltd boosted its holdings in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company's stock worth $591,091,000 after purchasing an additional 3,250,416 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of recent analyst reports. Loop Capital set a $170.00 price target on shares of PDD in a research note on Tuesday, January 6th. Citigroup reiterated a "neutral" rating on shares of PDD in a research note on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on shares of PDD in a research note on Thursday, January 15th. Nomura upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $136.00 price target for the company in a research note on Friday, March 27th. Finally, Wall Street Zen cut shares of PDD from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, PDD has an average rating of "Hold" and an average target price of $140.27.

PDD Stock Performance

NASDAQ PDD opened at $100.17 on Monday. The firm has a 50-day moving average of $102.07 and a 200-day moving average of $114.37. The stock has a market cap of $139.45 billion, a PE ratio of 10.66, a P/E/G ratio of 0.94 and a beta of 0.07. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.97 and a 52-week high of $139.41.

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.

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.