Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Zurcher Kantonalbank increased its stake in PDD by 44.7% in Q4, owning 286,726 shares after buying an additional 88,546 shares, worth about $32.51 million.
• Analysts are mixed—PDD has a consensus rating of Hold with a consensus target of $139.67, while the stock opened around $98.99 and was trading down roughly 5%.
• Institutional investors own 39.83% of the company; PDD has a market cap of about $137.8 billion, a P/E of 10.53, and its 50-day moving average sits below the 200-day, indicating recent weakness.

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 44.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 286,726 shares of the company's stock after purchasing an additional 88,546 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in PDD were worth $32,512,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PDD. GAMMA Investing LLC boosted its position in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company's stock worth $32,000 after purchasing an additional 238 shares during the period. Binnacle Investments Inc boosted its position in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after purchasing an additional 200 shares during the period. Wexford Capital LP purchased a new position in shares of PDD during the 3rd quarter worth approximately $44,000. Assetmark Inc. boosted its position in shares of PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company's stock worth $53,000 after purchasing an additional 305 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company's stock worth $53,000 after purchasing an additional 353 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Arete Research raised shares of PDD from a "neutral" rating to a "buy" rating and set a $121.00 price objective for the company in a research report on Friday, April 17th. Citigroup reiterated a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Wall Street Zen lowered shares of PDD from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Nomura upgraded shares of PDD from a "neutral" rating to a "buy" rating and set a $136.00 target price on the stock in a report on Friday, March 27th. Finally, Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, PDD has a consensus rating of "Hold" and a consensus target price of $139.67.

PDD Trading Down 5.0%

Shares of PDD opened at $98.99 on Wednesday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $95.24 and a twelve month high of $139.41. The firm's fifty day simple moving average is $101.87 and its 200-day simple moving average is $112.88. The firm has a market capitalization of $137.81 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.98 and a beta of 0.07.

PDD 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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