Horizon Investments LLC Increases Position in PDD Holdings Inc. Sponsored ADR $PDD

Horizon Investments LLC increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 62.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,717 shares of the company’s stock after buying an additional 7,949 shares during the quarter. Horizon Investments LLC’s holdings in PDD were worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in PDD. Binnacle Investments Inc boosted its holdings in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of PDD by 595.0% during the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after purchasing an additional 238 shares during the last quarter. Wexford Capital LP purchased a new position in shares of PDD during the third quarter worth $44,000. Assetmark Inc. raised its holdings in shares of PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 353 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD opened at $96.75 on Wednesday. The business’s 50-day moving average is $101.25 and its two-hundred day moving average is $111.10. The company has a market capitalization of $134.69 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.92 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $95.24 and a fifty-two week high of $139.41.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PDD shares. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Friday, April 17th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Finally, Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Friday, March 27th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $139.67.

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.