iA Global Asset Management Inc. Grows Holdings in PDD Holdings Inc. Sponsored ADR $PDD

iA Global Asset Management Inc. grew its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,663 shares of the company’s stock after buying an additional 6,023 shares during the quarter. iA Global Asset Management Inc.’s holdings in PDD were worth $10,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PDD. GAMMA Investing LLC boosted its stake in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares during the last quarter. Binnacle Investments Inc boosted its stake in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. Wexford Capital LP purchased a new position in shares of PDD during the 3rd quarter valued at approximately $44,000. Assetmark Inc. boosted its stake 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 during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 353 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDD has been the subject of several research analyst reports. Nomura upgraded PDD from a “neutral” rating to a “buy” rating and set a $136.00 target price for the company in a research note on Friday, March 27th. 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. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.86.

PDD Price Performance

Shares of NASDAQ PDD opened at $95.83 on Monday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $93.81 and a 1-year high of $139.41. The business’s fifty day moving average price is $100.34 and its two-hundred day moving average price is $109.23. The firm has a market capitalization of $136.40 billion, a PE ratio of 10.19, a P/E/G ratio of 0.90 and a beta of 0.04.

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.