Liontrust Investment Partners LLP Sells 69,131 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Liontrust Investment Partners LLP lessened its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 44.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 87,410 shares of the company’s stock after selling 69,131 shares during the quarter. Liontrust Investment Partners LLP’s holdings in PDD were worth $9,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PDD. Westside Investment Management Inc. boosted its position in PDD by 398.0% in the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of PDD during the 2nd quarter worth $28,000. EMC Capital Management purchased a new position in shares of PDD in the 2nd quarter worth about $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in PDD during the second quarter valued at about $56,000. Finally, Activest Wealth Management grew its position in PDD by 139.1% during the second quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after buying an additional 487 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PDD shares. Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the company a “buy” rating in a research note on Monday, August 25th. Sanford C. Bernstein set a $135.00 price objective on PDD in a research note on Tuesday, November 18th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Arete lowered PDD from a “buy” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research note on Tuesday, December 9th. Finally, Macquarie set a $165.00 price target on PDD and gave the stock an “outperform” rating in a research note on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, PDD presently has an average rating of “Hold” and an average target price of $136.43.

PDD Stock Performance

Shares of NASDAQ PDD opened at $111.96 on Friday. 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 cap of $155.87 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.32 and a beta of 0.07. The stock has a fifty day moving average of $126.49 and a 200-day moving average of $118.66.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.