PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Temasek Holdings Private Ltd

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 grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,132,985 shares of the company's stock after purchasing an additional 86,183 shares during the quarter. Temasek Holdings Private Ltd owned about 0.08% of PDD worth $134,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in PDD by 5.2% in the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock worth $4,739,595,000 after purchasing an additional 1,987,935 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PDD by 9,469.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock valued at $4,695,948,000 after buying an additional 39,263,851 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of PDD by 1.5% during the first quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock valued at $3,441,556,000 after buying an additional 416,867 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of PDD by 4,562.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after buying an additional 14,110,042 shares during the last quarter. Finally, H&H International Investment LLC grew its holdings in shares of PDD by 7.3% during the first quarter. H&H International Investment LLC now owns 7,753,900 shares of the company's stock valued at $917,674,000 after buying an additional 525,200 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PDD. Benchmark reissued a "buy" rating and set a $160.00 price objective (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. JPMorgan Chase & Co. dropped their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Zacks Research raised shares of PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. New Street Research lowered shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 price target on the stock. in a report on Tuesday, August 26th. Finally, China Renaissance reaffirmed a "hold" rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $137.82.

PDD Trading Down 0.1%

Shares of PDD stock traded down $0.19 during trading hours on Friday, reaching $125.53. The stock had a trading volume of 3,044,759 shares, compared to its average volume of 9,038,474. The stock's 50 day moving average is $115.90 and its 200 day moving average is $111.35. The firm has a market capitalization of $174.76 billion, a PE ratio of 13.62, a PEG ratio of 1.47 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67.

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.