Investment House LLC Invests $2.37 Million in PDD Holdings Inc. Sponsored ADR $PDD

Investment House LLC purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 17,913 shares of the company’s stock, valued at approximately $2,368,000.

Several other institutional investors have also recently bought and sold shares of the stock. Westside Investment Management Inc. boosted its position in PDD by 398.0% in the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after buying an additional 199 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of PDD during the second quarter valued at $28,000. Global Retirement Partners LLC boosted its holdings in PDD by 215.7% in the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. EMC Capital Management acquired a new stake in PDD in the second quarter worth about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in PDD during the 2nd quarter worth about $56,000. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD opened at $106.38 on Friday. The firm’s fifty day moving average is $113.90 and its two-hundred day moving average is $120.73. The firm has a market cap of $148.10 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America reduced their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a report on Tuesday, November 18th. Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Loop Capital set a $170.00 price target on PDD in a research report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.