Public Sector Pension Investment Board Sells 33,900 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Public Sector Pension Investment Board lessened its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 411,930 shares of the company’s stock after selling 33,900 shares during the period. Public Sector Pension Investment Board’s holdings in PDD were worth $54,445,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. TB Alternative Assets Ltd. increased its stake in shares of PDD by 62.5% in the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock valued at $45,716,000 after buying an additional 133,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock worth $48,694,000 after acquiring an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in PDD in the third quarter valued at approximately $2,790,000. Nomura Holdings Inc. increased its position in PDD by 67.1% during the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after purchasing an additional 69,728 shares during the period. Finally, Freemont Capital Pte Ltd raised its holdings 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 purchasing an additional 5,000 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Down 4.2%

NASDAQ:PDD opened at $100.22 on Friday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41. The stock has a market capitalization of $139.52 billion and a price-to-earnings ratio of 10.46. The firm has a fifty day simple moving average of $110.16 and a two-hundred day simple moving average of $120.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PDD. Bank of America reduced their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a report on Tuesday, November 18th. Arete Research set a $130.00 price target on PDD in a report on Tuesday, December 9th. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus target price of $139.87.

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.