PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Lessened by IvyRock Asset Management HK Ltd

IvyRock Asset Management HK Ltd cut its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,035,249 shares of the company’s stock after selling 51,600 shares during the quarter. PDD accounts for approximately 58.8% of IvyRock Asset Management HK Ltd’s investment portfolio, making the stock its largest position. IvyRock Asset Management HK Ltd’s holdings in PDD were worth $136,829,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Focus Partners Wealth grew its stake in shares of PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after buying an additional 7,744 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after acquiring an additional 395 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of PDD by 6.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,559 shares of the company’s stock valued at $2,152,000 after acquiring an additional 1,186 shares during the last quarter. Howard Capital Management Inc. grew its position in PDD by 10.0% in the second quarter. Howard Capital Management Inc. now owns 13,797 shares of the company’s stock worth $1,444,000 after acquiring an additional 1,251 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in PDD by 758.9% during the second quarter. Hantz Financial Services Inc. now owns 4,114 shares of the company’s stock worth $429,000 after acquiring an additional 3,635 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Up 0.0%

NASDAQ PDD opened at $106.90 on Thursday. The stock has a market cap of $148.82 billion and a P/E ratio of 11.16. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The company has a fifty day simple moving average of $108.47 and a two-hundred day simple moving average of $119.48.

Analysts Set New Price Targets

PDD has been the subject of several analyst reports. Loop Capital set a $170.00 price objective on PDD in a research note on Tuesday, January 6th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Finally, Bank of America lowered their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PDD has an average 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.