Thrivent Financial for Lutherans Grows Position in PDD Holdings Inc. Sponsored ADR $PDD

Thrivent Financial for Lutherans boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 20.8% in the 4th quarter, HoldingsChannel reports. The fund owned 44,491 shares of the company’s stock after acquiring an additional 7,670 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PDD were worth $5,045,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Binnacle Investments Inc increased its position in shares of PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. Wexford Capital LP purchased a new position in shares of PDD in the third quarter valued at $44,000. Assetmark Inc. increased its position in shares of PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Down 0.4%

PDD opened at $97.79 on Friday. The firm has a market cap of $139.19 billion, a P/E ratio of 10.40, a PEG ratio of 0.92 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a 52 week low of $93.81 and a 52 week high of $139.41. The business’s fifty day simple moving average is $99.90 and its 200 day simple moving average is $108.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PDD. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Arete Research upgraded PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Friday, April 17th. Finally, Nomura upgraded PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a research report on Friday, March 27th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $137.86.

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.