Massachusetts Financial Services Co. MA Sells 136,728 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Massachusetts Financial Services Co. MA lessened its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 9.9% during the third quarter, Holdings Channel reports. The fund owned 1,244,571 shares of the company’s stock after selling 136,728 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PDD were worth $164,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDD. Focus Financial Network Inc. raised its position in shares of PDD by 4.3% in the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock valued at $249,000 after purchasing an additional 97 shares during the period. Gunderson Capital Management Inc. raised its holdings in PDD by 5.5% in the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock valued at $203,000 after acquiring an additional 101 shares during the period. Lido Advisors LLC raised its holdings in PDD by 4.6% in the 2nd quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after acquiring an additional 115 shares during the period. Range Financial Group LLC lifted its position in PDD by 3.4% during the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock worth $461,000 after acquiring an additional 116 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in shares of PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after acquiring an additional 199 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Stock Down 0.6%

PDD stock opened at $106.78 on Tuesday. The company’s 50-day moving average price is $116.22 and its two-hundred day moving average price is $120.82. The firm has a market cap of $148.66 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.99 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41.

Wall Street Analyst Weigh In

PDD has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday. Arete Research set a $130.00 price target on shares of PDD in a research report on Tuesday, December 9th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Five analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $139.25.

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.