Clough Capital Partners L P Sells 59,920 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Clough Capital Partners L P cut its stake in PDD by 76.8%, selling 59,920 shares in the quarter and ending with 18,150 shares valued at about $2.399 million.
• Several large institutions — including Norges Bank, Himalaya Capital, NetEase, and Orbis Allan Gray — acquired or expanded sizeable PDD positions recently, and institutional investors now own roughly 39.8% of the stock.
• PDD shares traded near $102.65 with a market cap of $142.9 billion and a P/E of 10.72; analysts’ consensus is a Hold with a consensus target price of $139.87.

Clough Capital Partners L P lowered its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 76.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,150 shares of the company's stock after selling 59,920 shares during the quarter. Clough Capital Partners L P's holdings in PDD were worth $2,399,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PDD. Norges Bank acquired a new stake in PDD in the 2nd quarter valued at $962,785,000. Himalaya Capital Management LLC bought a new stake in PDD during the second quarter worth about $482,273,000. NetEase Inc. acquired a new stake in shares of PDD during the second quarter worth approximately $372,117,000. Orbis Allan Gray Ltd raised its stake in shares of PDD by 135.6% in the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company's stock valued at $591,091,000 after acquiring an additional 3,250,416 shares during the last quarter. Finally, Aspex Management HK Ltd bought a new position in shares of PDD in the third quarter valued at approximately $419,287,000. 39.83% of the stock is owned by institutional investors.

PDD Trading Up 1.0%

Shares of PDD stock opened at $102.65 on Friday. The business's 50-day moving average price is $106.05 and its 200-day moving average price is $118.04. The firm has a market capitalization of $142.90 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 0.90 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.

Analysts Set New Price Targets

A number of research firms recently commented on PDD. Bank of America decreased 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. Loop Capital set a $170.00 target price on shares of PDD in a research report on Tuesday, January 6th. Arete Research set a $130.00 target price on shares of PDD in a research report on Tuesday, December 9th. Citigroup reiterated a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered shares of PDD from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Four 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, the company presently has a consensus rating of "Hold" and a consensus target price of $139.87.

PDD Company 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.

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