PDD Holdings Inc. Sponsored ADR $PDD Position Boosted by Quadrant Capital Group LLC

Key Points

• Quadrant Capital Group LLC boosted its stake in PDD by 115.2% in Q3 to 21,236 shares, worth about $2.81 million at the quarter end.
• Institutional investors own 39.83% of PDD, and several smaller firms notably increased positions in Q3 (e.g., Assetmark +314.4%, Global Retirement Partners +215.7%, Westside +79.9%).
• Wall Street's consensus is an average rating of Hold with an average price target of $139.87, while PDD trades near $102.94 with a market cap of $143.31 billion and a P/E of 10.75.

Quadrant Capital Group LLC boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 115.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,236 shares of the company's stock after acquiring an additional 11,368 shares during the quarter. Quadrant Capital Group LLC's holdings in PDD were worth $2,807,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company's stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company's stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Westside Investment Management Inc. lifted 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 PDD in the 2nd quarter valued at about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in PDD in the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PDD. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research report on Tuesday, November 18th. Wall Street Zen cut shares of PDD from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Arete Research set a $130.00 target price on PDD in a report on Tuesday, December 9th. Finally, Citigroup restated 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $139.87.

PDD Price Performance

NASDAQ PDD opened at $102.94 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41. The company has a market capitalization of $143.31 billion, a P/E ratio of 10.75, a PEG ratio of 0.92 and a beta of -0.01. The company's 50 day simple moving average is $106.55 and its 200 day simple moving average is $118.37.

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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