PDD Holdings Inc. Sponsored ADR $PDD Stock Position Cut by RV Capital AG

RV Capital AG trimmed its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,232 shares of the company’s stock after selling 34,337 shares during the quarter. PDD makes up approximately 7.3% of RV Capital AG’s investment portfolio, making the stock its 6th largest position. RV Capital AG’s holdings in PDD were worth $39,814,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PDD. Westside Investment Management Inc. grew its position in shares of PDD by 398.0% in the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after purchasing an additional 199 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of PDD during the second quarter worth about $28,000. EMC Capital Management acquired a new position in shares of PDD in the second quarter valued at approximately $52,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of PDD in the second quarter valued at approximately $56,000. Finally, Global Retirement Partners LLC increased its stake in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after buying an additional 302 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of NASDAQ PDD opened at $115.75 on Friday. The stock’s 50-day simple moving average is $120.93 and its 200-day simple moving average is $119.87. The firm has a market capitalization of $161.14 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.08 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research report on Tuesday, November 18th. Bank of America decreased their target price on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Arete downgraded PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target on the stock. in a report on Tuesday, December 9th. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PDD has a consensus rating of “Hold” and an average price target of $136.43.

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.