Cantor Fitzgerald L. P. Acquires New Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Cantor Fitzgerald L. P. bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 54,739 shares of the company’s stock, valued at approximately $7,235,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Binnacle Investments Inc grew its holdings in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the period. EMC Capital Management bought a new position in PDD in the second quarter valued at about $52,000. Assetmark Inc. boosted its position in PDD by 314.4% in 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. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of PDD during the 2nd quarter valued at about $56,000. Finally, Global Retirement Partners LLC grew 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 valued at $58,000 after purchasing an additional 302 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PDD shares. Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research report on Tuesday, November 18th. Finally, Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $139.87.

PDD Stock Up 1.0%

PDD stock opened at $102.65 on Friday. The business’s 50-day moving average price is $106.05 and its 200-day moving average price is $118.04. The stock has a market cap of $142.90 billion, a P/E ratio of 10.72, a PEG ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41.

PDD 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.