Quadrature Capital Ltd Makes New $30.23 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Quadrature Capital Ltd bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 228,754 shares of the company’s stock, valued at approximately $30,228,000.

Other hedge funds have also recently modified their holdings of the company. EMC Capital Management purchased a new stake in shares of PDD in the second quarter worth approximately $52,000. Assetmark Inc. boosted its holdings in PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 305 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in PDD during the 2nd quarter valued at $56,000. Global Retirement Partners LLC grew its position in PDD by 215.7% in the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake 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. Institutional investors own 39.83% of the company’s stock.

PDD Trading Down 1.3%

PDD opened at $101.62 on Friday. The company has a market capitalization of $141.47 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 0.91 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The business’s fifty day simple moving average is $106.31 and its 200-day simple moving average is $118.26.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Arete Research set a $130.00 target price on 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 report on Saturday, January 31st. Citigroup reiterated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Loop Capital set a $170.00 price objective on shares of PDD in a research report on Tuesday, January 6th. Finally, Morgan Stanley set a $148.00 target price on shares of PDD in a research note on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average 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.