Strs Ohio Sells 16,144 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Strs Ohio lowered its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 27.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,955 shares of the company’s stock after selling 16,144 shares during the period. Strs Ohio’s holdings in PDD were worth $5,545,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Focus Partners Wealth raised its position in shares of PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after acquiring an additional 7,744 shares during the last quarter. Intech Investment Management LLC increased its position in PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares during the period. Union Bancaire Privee UBP SA increased its position in PDD by 20.8% in the second quarter. Union Bancaire Privee UBP SA now owns 56,727 shares of the company’s stock worth $5,403,000 after purchasing an additional 9,751 shares during the period. Ameritas Advisory Services LLC bought a new stake in PDD during the 2nd quarter worth about $28,000. Finally, Checchi Capital Advisers LLC lifted its position in PDD by 7.3% during the 2nd quarter. Checchi Capital Advisers LLC now owns 4,131 shares of the company’s stock valued at $432,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Up 0.5%

PDD opened at $106.86 on Tuesday. The stock has a market cap of $148.77 billion, a P/E ratio of 11.15, a P/E/G ratio of 0.99 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41. The company has a fifty day simple moving average of $113.46 and a 200 day simple moving average of $120.85.

Analyst Ratings Changes

PDD has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of PDD in a research note on Tuesday, January 20th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research report on Tuesday, November 18th. Loop Capital set a $170.00 price target on PDD in a research report on Tuesday, January 6th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, 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. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.