Think Investments LP Invests $19.17 Million 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.

Other hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in PDD in the first quarter valued at $26,000. IFP Advisors Inc grew its position in shares of PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after acquiring an additional 290 shares during the period. Goldstream Capital Management Ltd purchased a new position in shares of PDD in the 1st quarter valued at about $102,000. Siemens Fonds Invest GmbH purchased a new position in shares of PDD in the 4th quarter valued at about $192,000. Finally, OneDigital Investment Advisors LLC acquired a new position in PDD in the 1st quarter worth about $204,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Jefferies Financial Group set a $146.00 price objective on PDD and gave the company a "buy" rating in a report on Monday, August 25th. Bank of America increased their target price on PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Barclays boosted their price target on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Macquarie set a $165.00 price objective on shares of PDD and gave the stock an "outperform" rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. dropped their target price 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. One equities research 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $137.82.

PDD Stock Performance

Shares of PDD stock traded down $0.44 on Friday, reaching $125.28. 2,960,041 shares of the company were exchanged, compared to its average volume of 9,037,491. The company has a market cap of $174.41 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.47 and a beta of 0.46. The business has a 50-day moving average price of $115.90 and a 200 day moving average price of $111.35. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year 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.