Green Court Capital Management Ltd Grows Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Green Court Capital Management Ltd grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 42.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,060,800 shares of the company’s stock after acquiring an additional 315,200 shares during the quarter. PDD makes up approximately 63.8% of Green Court Capital Management Ltd’s holdings, making the stock its largest position. Green Court Capital Management Ltd owned 0.08% of PDD worth $140,206,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Focus Partners Wealth increased its stake in PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after buying an additional 395 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of PDD during the 2nd quarter valued at about $28,000. Blue Trust Inc. raised its stake in PDD by 23.9% during the second quarter. Blue Trust Inc. now owns 3,820 shares of the company’s stock worth $400,000 after acquiring an additional 736 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in PDD by 17.6% during the second quarter. Apollon Wealth Management LLC now owns 3,574 shares of the company’s stock worth $374,000 after acquiring an additional 536 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDD has been the subject of several recent research reports. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Bank of America reduced their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Morgan Stanley set a $148.00 target price on PDD in a research report on Thursday, January 15th. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Price Performance

Shares of PDD stock opened at $105.23 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’s fifty day moving average price is $111.26 and its two-hundred day moving average price is $120.50. The company has a market capitalization of $146.50 billion and a P/E ratio of 10.98.

About PDD

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.