RWC Asset Management LLP Purchases New Shares in PDD Holdings Inc. Sponsored ADR $PDD

RWC Asset Management LLP bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,390 shares of the company’s stock, valued at approximately $845,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. lifted its position in PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of PDD during the second quarter valued at $28,000. EMC Capital Management bought a new stake in shares of PDD in the second quarter worth approximately $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in PDD in the 2nd quarter worth approximately $56,000. Finally, Global Retirement Partners LLC raised its stake in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PDD. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Sanford C. Bernstein set a $135.00 target price on PDD in a research report on Tuesday, November 18th. Arete downgraded PDD from a “buy” rating to a “neutral” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, December 9th. Finally, Bank of America lowered their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $138.67.

PDD Price Performance

PDD stock opened at $118.73 on Tuesday. The stock has a market cap of $165.29 billion, a P/E ratio of 12.39, a PEG ratio of 1.12 and a beta of 0.02. The firm’s 50 day moving average price is $119.01 and its 200-day moving average price is $120.69. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year 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.