PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC grew its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 115.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 21,236 shares of the company’s stock after acquiring an additional 11,368 shares during the quarter. Quadrant Capital Group LLC’s holdings in PDD were worth $2,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PDD. Norges Bank acquired a new position in shares of PDD in the 2nd quarter valued at $962,785,000. Himalaya Capital Management LLC acquired a new stake in PDD during the 2nd quarter worth about $482,273,000. NetEase Inc. purchased a new stake in PDD during the second quarter valued at about $372,117,000. Orbis Allan Gray Ltd lifted its stake in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after buying an additional 3,250,416 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of PDD by 10.2% in the second quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock worth $3,352,859,000 after buying an additional 2,956,249 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 1.8%

Shares of PDD opened at $102.94 on Thursday. The firm has a market cap of $143.31 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 0.92 and a beta of -0.01. The company’s fifty day moving average is $106.55 and its 200-day moving average is $118.37. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41.

Wall Street Analyst Weigh In

PDD has been the topic of several analyst reports. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 price target on shares of PDD in a research report on Tuesday, January 6th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $139.87.

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.