IFM Investors Pty Ltd Acquires 44,246 Shares of PDD Holdings Inc. Sponsored ADR $PDD

IFM Investors Pty Ltd grew its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 159.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 72,022 shares of the company’s stock after purchasing an additional 44,246 shares during the period. IFM Investors Pty Ltd’s holdings in PDD were worth $9,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Westside Investment Management Inc. increased its position in PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after buying an additional 199 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of PDD during the second quarter valued at $28,000. EMC Capital Management purchased a new position in shares of PDD in the 2nd quarter worth about $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in PDD in the 2nd quarter worth about $56,000. Finally, Activest Wealth Management grew its position in PDD by 139.1% during the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after purchasing an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PDD. Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Arete cut PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a research note on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 price objective on PDD in a research report on Tuesday, November 18th. Finally, Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and an average target price of $136.43.

PDD Price Performance

PDD stock opened at $113.75 on Thursday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The company has a market cap of $158.36 billion, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.07. The stock’s fifty day moving average price is $123.25 and its 200-day moving average price is $119.29.

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.