Paradiem LLC Makes New $1.07 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Paradiem LLC acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,078 shares of the company’s stock, valued at approximately $1,068,000.

Several other large investors also recently modified their holdings of PDD. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in PDD by 20.3% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock valued at $6,221,000 after purchasing an additional 10,036 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of PDD by 53.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock valued at $773,878,000 after buying an additional 2,573,065 shares during the period. Edmond DE Rothschild Holding S.A. increased its position in PDD by 54.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock valued at $3,103,000 after buying an additional 9,206 shares in the last quarter. Freemont Capital Pte Ltd raised its stake in PDD by 19.2% during the 2nd quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after buying an additional 5,000 shares during the period. Finally, Nomura Holdings Inc. boosted its holdings in PDD by 67.1% in the second quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after acquiring an additional 69,728 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on PDD shares. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Arete lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a research note on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a report on Tuesday, November 18th. Arete Research set a $130.00 price objective on shares of PDD in a report on Tuesday, December 9th. Finally, Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Five investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, PDD presently has an average rating of “Hold” and a consensus price target of $136.43.

PDD Price Performance

Shares of PDD stock opened at $115.01 on Friday. The firm has a 50-day moving average of $122.71 and a 200-day moving average of $119.47. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The company has a market cap of $160.11 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.29 and a beta of 0.07.

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.