Schroder Investment Management Group Sells 937,940 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Schroder Investment Management Group sold 937,940 PDD ADR shares in Q3, reducing its stake by 40.5% to 1,380,013 shares valued at about $182.4 million.
• Wall Street shows mixed sentiment with a consensus rating of "Hold" and an average price target of $139.87 (four Buy, eleven Hold ratings).
• PDD recently traded near $102.64, with a market cap of about $142.9 billion, a P/E of 10.71, and a 12‑month range of $87.11–$139.41.

Schroder Investment Management Group lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 40.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380,013 shares of the company's stock after selling 937,940 shares during the quarter. Schroder Investment Management Group owned about 0.10% of PDD worth $182,396,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. EMC Capital Management acquired a new position in PDD during the 2nd quarter worth approximately $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 valued at $53,000 after acquiring an additional 305 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of PDD during the second quarter valued at approximately $56,000. Global Retirement Partners LLC raised its position in shares of PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company's stock worth $58,000 after purchasing an additional 302 shares during the period. Finally, Westside Investment Management Inc. raised its position in shares of PDD by 79.9% during 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. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PDD has been the subject of several research reports. Arete Research set a $130.00 price target on shares of PDD in a research report on Tuesday, December 9th. Bank of America lowered their price objective on shares of PDD from $141.00 to $140.00 and set a "neutral" rating on the stock in a report on Wednesday, November 19th. Wall Street Zen lowered shares of PDD from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Morgan Stanley set a $148.00 target price on shares of PDD in a research report on Thursday, January 15th. Finally, Citigroup restated a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $139.87.

PDD Trading Up 0.7%

Shares of PDD stock opened at $102.64 on Tuesday. The company has a market capitalization of $142.89 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 0.90 and a beta of -0.01. The stock has a fifty day simple moving average of $106.94 and a 200 day simple moving average of $118.64. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41.

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.

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