Kepler Cheuvreux Suisse SA purchased a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 25,922 shares of the company's stock, valued at approximately $3,426,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. EMC Capital Management bought a new stake in PDD in the 2nd quarter valued at about $52,000. Assetmark Inc. increased its holdings in shares of PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company's stock worth $53,000 after purchasing an additional 305 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of PDD in the second quarter valued at approximately $56,000. Global Retirement Partners LLC raised its position in shares of PDD by 215.7% in the third quarter. Global Retirement Partners LLC now owns 442 shares of the company's stock valued at $58,000 after buying an additional 302 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of PDD by 79.9% in the third quarter. Westside Investment Management Inc. now owns 448 shares of the company's stock valued at $60,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 39.83% of the company's stock.
PDD Price Performance
Shares of PDD opened at $104.86 on Wednesday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The company has a market cap of $145.98 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.90 and a beta of -0.01. The firm has a 50 day simple moving average of $106.76 and a two-hundred day simple moving average of $118.48.
Analyst Ratings Changes
A number of equities analysts have commented on PDD shares. Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Sanford C. Bernstein set a $135.00 target price on PDD in a research report on Tuesday, November 18th. Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Wall Street Zen cut PDD from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a research 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $139.87.
Get Our Latest Stock Analysis on PDD
PDD Profile
(
Free Report)
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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