Rafferty Asset Management LLC Sells 21,817 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Rafferty Asset Management LLC decreased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 18.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 94,561 shares of the company’s stock after selling 21,817 shares during the period. Rafferty Asset Management LLC’s holdings in PDD were worth $12,498,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. TB Alternative Assets Ltd. lifted its position in PDD by 62.5% in the 3rd quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock valued at $45,716,000 after acquiring an additional 133,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of PDD by 17.3% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock valued at $48,694,000 after purchasing an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of PDD in the third quarter valued at about $2,790,000. Nomura Holdings Inc. boosted its position in shares of PDD by 67.1% during the second quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after buying an additional 69,728 shares during the period. Finally, Freemont Capital Pte Ltd grew its holdings in shares of PDD by 19.2% during the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Down 1.6%

NASDAQ:PDD opened at $103.73 on Monday. The stock has a market capitalization of $144.41 billion, a PE ratio of 10.83, a P/E/G ratio of 0.95 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The firm has a fifty day simple moving average of $108.35 and a 200 day simple moving average of $119.36.

Analyst Upgrades and Downgrades

PDD has been the topic of several research reports. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a report on Tuesday, November 18th. Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Loop Capital set a $170.00 price target on shares of PDD in a research report on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average price target of $139.87.

PDD Company 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.