Temasek Holdings Private Ltd Raises Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Temasek Holdings increased its stake in PDD Holdings Inc. by 8.2% during the first quarter, holding approximately $134 million worth of shares.
• Institutional investors collectively own 39.83% of PDD's stock, indicating significant interest from various investment firms.
• Research firms have differing views on PDD's stock, with price targets ranging from $105 to $165, and a consensus rating of "Moderate Buy".

Temasek Holdings Private Ltd raised its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,132,985 shares of the company's stock after buying an additional 86,183 shares during the period. Temasek Holdings Private Ltd owned about 0.08% of PDD worth $134,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Think Investments LP purchased a new stake in PDD during the first quarter valued at approximately $19,173,000. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of PDD by 17.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 91,752 shares of the company's stock valued at $10,859,000 after acquiring an additional 13,883 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of PDD by 20.5% in the 1st quarter. NewEdge Advisors LLC now owns 17,673 shares of the company's stock worth $2,092,000 after acquiring an additional 3,001 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PDD by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 657,954 shares of the company's stock worth $77,869,000 after buying an additional 36,862 shares during the period. Finally, H&H International Investment LLC increased its stake in PDD by 7.3% in the 1st quarter. H&H International Investment LLC now owns 7,753,900 shares of the company's stock worth $917,674,000 after buying an additional 525,200 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD traded up $1.03 during trading hours on Tuesday, hitting $126.06. The stock had a trading volume of 9,146,589 shares, compared to its average volume of 9,815,882. The firm has a 50-day moving average price of $115.04 and a 200 day moving average price of $111.21. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The firm has a market capitalization of $175.49 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.48 and a beta of 0.46.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PDD. New Street Research downgraded shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price on the stock. in a research report on Tuesday, August 26th. JPMorgan Chase & Co. cut their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Citigroup reiterated a "buy" rating on shares of PDD in a research note on Monday, August 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. Finally, Bank of America lifted their target price on shares of PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.82.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.