Robeco Institutional Asset Management B.V. Grows Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Robeco Institutional Asset Management B.V. raised its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 30.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,612,868 shares of the company’s stock after acquiring an additional 380,141 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.12% of PDD worth $213,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Westside Investment Management Inc. raised its stake in shares of 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 purchasing an additional 199 shares during the period. Ameritas Advisory Services LLC purchased a new position in PDD during the 2nd quarter valued at about $28,000. EMC Capital Management purchased a new position in PDD during the 2nd quarter valued at about $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of PDD during the second quarter valued at about $56,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of PDD by 215.7% in the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after buying an additional 302 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PDD has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Arete Research set a $130.00 price target on PDD in a research report on Tuesday, December 9th. Bank of America cut their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research note on Tuesday, November 18th. Finally, Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Five analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $136.43.

PDD Stock Up 2.9%

Shares of NASDAQ PDD opened at $119.12 on Tuesday. The firm’s fifty day moving average is $120.55 and its 200 day moving average is $120.11. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41. The company has a market cap of $165.83 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.08 and a beta of 0.02.

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.