PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Decreased by KEYWISE CAPITAL MANAGEMENT HK Ltd

KEYWISE CAPITAL MANAGEMENT HK Ltd lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 84.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 219,850 shares of the company’s stock after selling 1,170,200 shares during the period. PDD comprises approximately 2.2% of KEYWISE CAPITAL MANAGEMENT HK Ltd’s holdings, making the stock its 7th largest position. KEYWISE CAPITAL MANAGEMENT HK Ltd’s holdings in PDD were worth $29,058,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Hidden Lake Asset Management LP bought a new stake in PDD during the third quarter valued at about $15,972,000. Holocene Advisors LP bought a new position in shares of PDD in the third quarter worth about $11,040,000. Focus Partners Wealth grew its position in shares of PDD by 17.7% during the third quarter. Focus Partners Wealth now owns 13,744 shares of the company’s stock worth $1,817,000 after purchasing an additional 2,066 shares in the last quarter. Bamco Inc. NY raised its stake in PDD by 16.1% during the 3rd quarter. Bamco Inc. NY now owns 62,386 shares of the company’s stock valued at $8,246,000 after purchasing an additional 8,643 shares during the period. Finally, California Public Employees Retirement System raised its stake in PDD by 12.5% during the 3rd quarter. California Public Employees Retirement System now owns 1,194,229 shares of the company’s stock valued at $157,841,000 after purchasing an additional 132,789 shares during the period. 39.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PDD has been the subject of several recent analyst reports. Arete Research set a $130.00 price target on PDD in a research note on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a report on Tuesday, November 18th. Morgan Stanley set a $148.00 target price on shares of PDD in a research report on Thursday, January 15th. Loop Capital set a $170.00 target price on shares of PDD in a research note on Tuesday, January 6th. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Price Performance

NASDAQ PDD opened at $102.65 on Monday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The business has a 50 day simple moving average of $106.05 and a two-hundred day simple moving average of $118.01. The stock has a market capitalization of $142.90 billion, a PE ratio of 10.72, a P/E/G ratio of 0.90 and a beta of -0.01.

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.