Hantz Financial Services Inc. Boosts Stake in PDD Holdings Inc. Sponsored ADR $PDD

Hantz Financial Services Inc. increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 473.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,594 shares of the company’s stock after purchasing an additional 19,480 shares during the quarter. Hantz Financial Services Inc.’s holdings in PDD were worth $3,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Westside Investment Management Inc. increased its stake in PDD by 79.9% in the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock valued at $60,000 after purchasing an additional 199 shares in the last quarter. Pathway Capital Management LP acquired a new stake in PDD in the third quarter valued at $951,000. AGF Management Ltd. purchased a new position in shares of PDD in the third quarter valued at $268,000. State of Wyoming acquired a new position in shares of PDD during the 3rd quarter worth $1,271,000. Finally, Mawer Investment Management Ltd. boosted its position in shares of PDD by 27.4% in the 3rd quarter. Mawer Investment Management Ltd. now owns 34,400 shares of the company’s stock worth $4,547,000 after buying an additional 7,400 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the topic of a number of analyst reports. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Arete Research set a $130.00 target price on shares of PDD in a report on Tuesday, December 9th. Finally, Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Trading Down 0.6%

Shares of NASDAQ:PDD opened at $101.52 on Friday. The firm has a market cap of $141.33 billion and a price-to-earnings ratio of 10.60. The stock’s 50-day moving average price is $111.48 and its two-hundred day moving average price is $120.49. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41.

About PDD

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.