PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Lifted by Monolith Management Ltd

Monolith Management Ltd grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 209,393 shares of the company’s stock after buying an additional 16,385 shares during the quarter. PDD makes up about 12.2% of Monolith Management Ltd’s investment portfolio, making the stock its 3rd largest holding. Monolith Management Ltd’s holdings in PDD were worth $27,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Focus Partners Wealth raised its position 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 purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC increased its position in PDD by 2.7% during the first 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. increased its position in shares of PDD by 6.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 20,559 shares of the company’s stock valued at $2,152,000 after purchasing an additional 1,186 shares during the last quarter. Savant Capital LLC raised its position in PDD by 65.1% in the second quarter. Savant Capital LLC now owns 2,928 shares of the company’s stock worth $306,000 after acquiring an additional 1,155 shares during the period. Finally, AE Wealth Management LLC lifted its position in PDD by 32.3% during the second quarter. AE Wealth Management LLC now owns 8,213 shares of the company’s stock valued at $860,000 after purchasing an additional 2,004 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Morgan Stanley set a $148.00 price target on shares of PDD in a research report on Thursday, January 15th. Sanford C. Bernstein set a $135.00 target price on PDD in a research note on Tuesday, November 18th. Finally, Bank of America lowered their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PDD has an average rating of “Hold” and an average target price of $139.87.

PDD Price Performance

Shares of PDD stock opened at $104.86 on Wednesday. The business has a 50 day simple moving average of $106.76 and a two-hundred day simple moving average of $118.48. The stock has a market capitalization of $145.98 billion, a P/E ratio of 10.95, a PEG 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.

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.