Todd Asset Management LLC Sells 6,152 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Todd Asset Management LLC decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 312,283 shares of the company’s stock after selling 6,152 shares during the period. Todd Asset Management LLC’s holdings in PDD were worth $35,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in PDD by 595.0% during the 4th 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 grew its holdings in PDD by 281.7% during the 3rd 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 stake in PDD during the 3rd quarter valued at approximately $44,000. Assetmark Inc. grew its holdings in PDD by 314.4% during the 3rd 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 grew its holdings in PDD by 720.4% during the 3rd 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. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $94.52 on Monday. The company has a fifty day moving average of $99.73 and a two-hundred day moving average of $107.83. The firm has a market capitalization of $134.54 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.89 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a 52 week low of $92.57 and a 52 week high of $139.41.

Analysts Set New Price Targets

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

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.