PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. trimmed its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,528 shares of the company’s stock after selling 31,800 shares during the quarter. APG Asset Management N.V.’s holdings in PDD were worth $49,898,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. increased its position in shares of PDD by 398.0% during the second 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 last quarter. EMC Capital Management purchased a new position in shares of PDD during the 2nd quarter worth approximately $52,000. Assetmark Inc. increased its holdings in PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 305 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in PDD in the second quarter valued at approximately $56,000. Finally, Global Retirement Partners LLC lifted its stake in PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PDD shares. Sanford C. Bernstein set a $135.00 price objective on PDD in a research note on Tuesday, November 18th. Bank of America decreased their target price on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Morgan Stanley set a $148.00 target price on shares of PDD in a research report on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Price Performance

PDD stock opened at $103.73 on Monday. The stock has a market cap of $144.41 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.95 and a beta of -0.01. The company has a fifty day moving average price of $108.35 and a two-hundred day moving average price of $119.36. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one 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.