Swiss Life Asset Management Ltd Increases Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Swiss Life Asset Management Ltd boosted its position in PDD by 33.9% in Q3, adding 17,773 shares to hold 70,223 shares worth about $9.28 million.
• Analysts' consensus is a "Hold" on PDD (four Buy, ten Hold) with a consensus price target of $140.57.
• PDD shares opened at $96.18, trade within a 1‑year range of $87.11–$139.41, and the company has a market cap of $133.9 billion and a P/E of 10.04.

Swiss Life Asset Management Ltd increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 33.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,223 shares of the company's stock after acquiring an additional 17,773 shares during the quarter. Swiss Life Asset Management Ltd's holdings in PDD were worth $9,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Binnacle Investments Inc boosted its holdings in PDD by 281.7% in the 3rd 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 period. Wexford Capital LP bought a new position in shares of PDD in the third quarter worth $44,000. EMC Capital Management bought a new position in shares of PDD in the second quarter worth $52,000. Assetmark Inc. raised its position in shares of PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company's stock worth $53,000 after buying an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company's stock worth $53,000 after buying an additional 353 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on PDD shares. Wall Street Zen cut PDD from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Citigroup reiterated a "neutral" rating on shares of PDD in a research report on Wednesday, January 28th. Arete Research set a $130.00 price objective on PDD in a report on Tuesday, December 9th. Finally, Morgan Stanley set a $148.00 price objective on shares of PDD in a research report on Thursday, January 15th. Four analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $140.57.

PDD Price Performance

Shares of NASDAQ PDD opened at $96.18 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The stock has a market capitalization of $133.90 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.86 and a beta of -0.01. The company's 50-day moving average is $104.00 and its 200 day moving average is $117.34.

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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