PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Capital International Investors

Capital International Investors raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.3% during the 3rd quarter, Holdings Channel reports. The firm owned 3,891,319 shares of the company’s stock after buying an additional 265,408 shares during the quarter. Capital International Investors’ holdings in PDD were worth $514,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. EMC Capital Management acquired a new position in shares of PDD during the 2nd quarter worth approximately $52,000. Assetmark Inc. lifted its position in shares of PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in PDD in the 2nd quarter valued at $56,000. Global Retirement Partners LLC grew its stake in PDD by 215.7% in the 3rd 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 period. Finally, Westside Investment Management Inc. increased its holdings in PDD by 79.9% in the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after acquiring an additional 199 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Up 2.2%

Shares of NASDAQ PDD opened at $104.86 on Wednesday. The stock has a market cap of $145.98 billion, a PE ratio of 10.95, a P/E/G ratio of 0.90 and a beta of -0.01. 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 50-day moving average of $106.76 and a 200 day moving average of $118.48.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PDD shares. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Loop Capital set a $170.00 target price on shares of PDD in a research note on Tuesday, January 6th. Arete Research set a $130.00 price target on shares of PDD in a research report on Tuesday, December 9th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Bank of America lowered their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.87.

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.