PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Yunqi Capital Ltd

Yunqi Capital Ltd boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 37.9% in the third quarter, Holdings Channel reports. The firm owned 144,800 shares of the company’s stock after purchasing an additional 39,800 shares during the quarter. PDD comprises about 11.2% of Yunqi Capital Ltd’s portfolio, making the stock its 4th biggest holding. Yunqi Capital Ltd’s holdings in PDD were worth $19,138,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Binnacle Investments Inc grew its stake in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after purchasing an additional 200 shares during the period. Wexford Capital LP bought a new position in shares of PDD during the 3rd quarter worth approximately $44,000. EMC Capital Management acquired a new stake in PDD in the 2nd quarter valued at $52,000. Assetmark Inc. boosted its stake in PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 353 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Bank of America dropped their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Arete Research set a $130.00 price target on shares of PDD in a research report on Tuesday, December 9th. Four investment 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 price target of $139.87.

PDD Price Performance

PDD stock opened at $104.37 on Wednesday. The business has a fifty day moving average price of $105.38 and a 200 day moving average price of $117.77. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The stock has a market capitalization of $145.30 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 0.92 and a beta of -0.01.

PDD Company 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.