Texas Yale Capital Corp. Acquires Shares of 15,363 PDD Holdings Inc. Sponsored ADR $PDD

Texas Yale Capital Corp. bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 15,363 shares of the company’s stock, valued at approximately $2,031,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PDD. Focus Partners Wealth boosted its stake in PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after purchasing an additional 7,744 shares in the last quarter. Intech Investment Management LLC increased its stake in PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after purchasing an additional 395 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in PDD in the second quarter worth about $3,935,000. International Assets Investment Management LLC lifted its stake in shares of PDD by 31.7% in the second quarter. International Assets Investment Management LLC now owns 2,905 shares of the company’s stock worth $304,000 after buying an additional 700 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in shares of PDD by 15.2% in the second quarter. Rehmann Capital Advisory Group now owns 2,495 shares of the company’s stock worth $261,000 after buying an additional 330 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in 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 cut their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Morgan Stanley set a $148.00 price objective on PDD in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, PDD currently has a consensus rating of “Hold” and an average price target of $139.87.

PDD Trading Up 0.1%

NASDAQ:PDD opened at $100.28 on Tuesday. The company has a market cap of $139.60 billion and a PE ratio of 10.47. The company has a 50 day simple moving average of $109.46 and a two-hundred day simple moving average of $119.94. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41.

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.