PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lowered its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,539 shares of the company’s stock after selling 8,408 shares during the period. Resona Asset Management Co. Ltd.’s holdings in PDD were worth $20,377,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PDD. GAMMA Investing LLC lifted its stake in shares of PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares during the last quarter. Binnacle Investments Inc lifted its stake in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Wexford Capital LP acquired a new position in shares of PDD in the 3rd quarter valued at $44,000. Assetmark Inc. lifted its stake in shares of PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 2.5%

PDD opened at $97.34 on Wednesday. The stock’s 50-day moving average price is $100.13 and its 200 day moving average price is $108.64. PDD Holdings Inc. Sponsored ADR has a 12-month low of $93.81 and a 12-month high of $139.41. The firm has a market cap of $138.55 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.89 and a beta of 0.04.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Friday, April 17th. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $137.86.

About PDD

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.