Think Investments LP Acquires New Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Think Investments LP has purchased 162,000 shares of PDD Holdings Inc., valued at approximately $19.17 million, which now makes up 3.7% of their investment portfolio.
• Multiple institutional investors, including Nissay Asset Management and MIRAE ASSET GLOBAL ETFS HOLDINGS, have also increased their stakes in PDD during the first quarter, indicating strong institutional interest in the stock.
• Analysts have revised PDD’s price targets, with Barclays raising it from $158 to $165, while the consensus rating remains a "Moderate Buy" with a target price of $137.82.

Think Investments LP bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 162,000 shares of the company's stock, valued at approximately $19,173,000. PDD makes up about 3.7% of Think Investments LP's investment portfolio, making the stock its 11th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in PDD by 1.3% in the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company's stock worth $1,060,000 after acquiring an additional 119 shares in the last quarter. Focus Financial Network Inc. increased its holdings in PDD by 6.3% in the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock worth $270,000 after acquiring an additional 136 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in PDD by 2.8% in the 1st quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock worth $625,000 after acquiring an additional 146 shares in the last quarter. Lindbrook Capital LLC increased its holdings in PDD by 11.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock worth $228,000 after acquiring an additional 199 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new stake in PDD in the 1st quarter worth $26,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PDD shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $112.00 price target on shares of PDD 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. Benchmark reissued a "buy" rating and issued a $160.00 price target (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Barclays lifted their target price on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Finally, New Street Research cut shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price on the stock. in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $137.82.

PDD Stock Performance

Shares of PDD stock traded up $1.03 on Tuesday, hitting $126.06. 9,146,589 shares of the stock traded hands, compared to its average volume of 9,815,882. The firm's 50-day moving average price is $115.04 and its two-hundred day moving average price is $111.21. The stock has a market capitalization of $175.49 billion, a PE ratio of 13.67, a PEG ratio of 1.48 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.