Clough Capital Partners L P Has $2.40 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Clough Capital Partners L P lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 76.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,150 shares of the company’s stock after selling 59,920 shares during the period. Clough Capital Partners L P’s holdings in PDD were worth $2,399,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PDD. Binnacle Investments Inc boosted its position in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares during the last quarter. Assetmark Inc. lifted its stake 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 in the last quarter. Global Retirement Partners LLC boosted its holdings in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after acquiring an additional 302 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of PDD by 79.9% in the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after acquiring an additional 199 shares in the last quarter. Finally, EMC Capital Management bought a new stake in shares of PDD in the 2nd quarter worth $52,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Up 1.0%

Shares of NASDAQ PDD opened at $102.65 on Friday. The stock’s 50-day moving average is $106.05 and its 200 day moving average is $118.04. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The stock has a market cap of $142.90 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.90 and a beta of -0.01.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Arete Research set a $130.00 target price on PDD in a research report on Tuesday, December 9th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Sanford C. Bernstein set a $135.00 price target on PDD in a research note on Tuesday, November 18th. Finally, Citigroup reissued a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PDD has a consensus rating of “Hold” and an average target price of $139.87.

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.