PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Cut by IDG China Venture Capital Fund IV Associates L.P.

IDG China Venture Capital Fund IV Associates L.P. lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 24.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,997,996 shares of the company’s stock after selling 632,986 shares during the period. PDD comprises about 55.4% of IDG China Venture Capital Fund IV Associates L.P.’s portfolio, making the stock its largest position. IDG China Venture Capital Fund IV Associates L.P. owned about 0.14% of PDD worth $264,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in shares of PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after buying an additional 199 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in PDD in the second quarter worth about $28,000. EMC Capital Management purchased a new position in PDD in the second quarter valued at about $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of PDD during the 2nd quarter valued at approximately $56,000. Finally, Global Retirement Partners LLC increased its stake in shares of PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after purchasing an additional 302 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PDD. Citigroup reissued a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research note on Tuesday, November 18th. Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Finally, Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $139.87.

PDD Trading Down 0.6%

PDD stock opened at $101.52 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The firm has a market capitalization of $141.33 billion and a PE ratio of 10.60. The firm’s 50 day simple moving average is $111.48 and its 200 day simple moving average is $120.49.

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.