NEOS Investment Management LLC Has $27.01 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

NEOS Investment Management LLC raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 69.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,356 shares of the company’s stock after purchasing an additional 83,963 shares during the period. NEOS Investment Management LLC’s holdings in PDD were worth $27,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PDD. Lido Advisors LLC grew its holdings in shares of PDD by 4.6% during the 2nd quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after purchasing an additional 115 shares during the last quarter. Range Financial Group LLC raised its position in shares of PDD by 3.4% during the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock worth $461,000 after acquiring an additional 116 shares during the last quarter. Savant Capital LLC lifted its stake in shares of PDD by 5.2% in the third quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock worth $407,000 after acquiring an additional 151 shares during the period. Westside Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 199 shares during the last quarter. Finally, Bridgewater Advisors Inc. raised its holdings in PDD by 10.8% during the second quarter. Bridgewater Advisors Inc. now owns 2,367 shares of the company’s stock worth $273,000 after buying an additional 230 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Up 0.1%

Shares of NASDAQ:PDD opened at $100.28 on Tuesday. The stock’s 50-day moving average price is $109.46 and its 200-day moving average price is $119.94. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The stock has a market capitalization of $139.60 billion and a P/E ratio of 10.47.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PDD shares. Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Bank of America dropped their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, PDD has an average rating of “Hold” and an average 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.