PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Lowered by Korea Investment CORP

Korea Investment CORP lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 545,887 shares of the company’s stock after selling 9,500 shares during the quarter. Korea Investment CORP’s holdings in PDD were worth $72,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Focus Partners Wealth raised its stake in PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,744 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of 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 in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of PDD by 6.1% in the second quarter. Envestnet Asset Management Inc. now owns 20,559 shares of the company’s stock worth $2,152,000 after purchasing an additional 1,186 shares in the last quarter. Savant Capital LLC increased its holdings in shares of PDD by 65.1% during the second quarter. Savant Capital LLC now owns 2,928 shares of the company’s stock valued at $306,000 after purchasing an additional 1,155 shares during the period. Finally, AE Wealth Management LLC increased its holdings in shares of PDD by 32.3% during the second quarter. AE Wealth Management LLC now owns 8,213 shares of the company’s stock valued at $860,000 after purchasing an additional 2,004 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $101.97 on Monday. The firm has a market capitalization of $141.96 billion, a P/E ratio of 10.64, a P/E/G ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41. The company’s 50 day simple moving average is $107.17 and its 200-day simple moving average is $118.78.

Analysts Set New Price Targets

Several research firms recently weighed in on PDD. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a report on Tuesday, November 18th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Finally, Bank of America dropped their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $139.87.

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.