Hel Ved Capital Management Ltd Sells 18,100 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Hel Ved Capital Management Ltd reduced its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 32.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,437 shares of the company’s stock after selling 18,100 shares during the quarter. PDD comprises 1.1% of Hel Ved Capital Management Ltd’s portfolio, making the stock its 21st biggest position. Hel Ved Capital Management Ltd’s holdings in PDD were worth $5,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PDD. Assetmark Inc. boosted its stake in PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after acquiring an additional 305 shares during the last quarter. Global Retirement Partners LLC raised its holdings in PDD by 215.7% in the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after purchasing an additional 302 shares during the period. Westside Investment Management Inc. raised its holdings in PDD by 79.9% in the third quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after purchasing an additional 199 shares during the period. EMC Capital Management bought a new position in shares of PDD during the second quarter worth $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of PDD in the 2nd quarter valued at $56,000. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

Shares of PDD stock opened at $101.97 on Friday. The firm has a market cap of $141.96 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.89 and a beta of -0.01. The stock’s 50-day moving average is $107.17 and its 200-day moving average is $118.78. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41.

Analyst Upgrades and Downgrades

Several analysts recently commented on PDD shares. Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Arete Research set a $130.00 price target on PDD in a report on Tuesday, December 9th. Bank of America dropped their price target on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Sanford C. Bernstein set a $135.00 price objective on PDD in a report on Tuesday, November 18th. Finally, Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.