PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by M&G PLC

M&G PLC lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 325,605 shares of the company’s stock after selling 10,683 shares during the period. M&G PLC’s holdings in PDD were worth $42,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of PDD by 1.1% in the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock worth $4,280,289,000 after acquiring an additional 348,997 shares during the period. Texas Yale Capital Corp. purchased a new stake in PDD in the third quarter valued at $2,031,000. Todd Asset Management LLC grew its position in PDD by 22.9% during the 3rd quarter. Todd Asset Management LLC now owns 318,435 shares of the company’s stock worth $42,089,000 after purchasing an additional 59,387 shares during the period. Assetmark Inc. raised 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, Allegheny Financial Group lifted its holdings in shares of PDD by 15.8% in the 3rd quarter. Allegheny Financial Group now owns 2,352 shares of the company’s stock valued at $311,000 after buying an additional 321 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on PDD shares. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday, January 15th. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Bank of America dropped their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Finally, Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $139.87.

PDD Stock Performance

Shares of PDD opened at $100.28 on Monday. The stock has a 50 day moving average price of $109.81 and a 200 day moving average price of $120.03. The stock has a market capitalization of $139.60 billion and a price-to-earnings ratio of 10.47. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year 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.