California Public Employees Retirement System Buys 132,789 Shares of PDD Holdings Inc. Sponsored ADR $PDD

California Public Employees Retirement System boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,194,229 shares of the company’s stock after acquiring an additional 132,789 shares during the quarter. California Public Employees Retirement System owned 0.09% of PDD worth $157,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. West Family Investments Inc. raised its holdings in shares of PDD by 2.8% during the 3rd quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after buying an additional 110 shares in the last quarter. Lido Advisors LLC boosted its stake in PDD by 4.6% in the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock worth $276,000 after buying an additional 115 shares in the last quarter. Range Financial Group LLC grew its position in PDD by 3.4% during the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock valued at $461,000 after acquiring an additional 116 shares during the last quarter. Savant Capital LLC raised its stake in shares of PDD by 5.2% during the third quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock worth $407,000 after acquiring an additional 151 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PDD by 10.2% during the third quarter. EverSource Wealth Advisors LLC now owns 1,832 shares of the company’s stock worth $242,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Arete Research set a $130.00 target price on shares of PDD in a research report on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research report on Tuesday, November 18th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Loop Capital set a $170.00 price objective on PDD in a report on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Stock Performance

Shares of PDD stock opened at $102.65 on Monday. 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 moving average price is $106.05 and its 200-day moving average price is $118.01. The stock has a market capitalization of $142.90 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.90 and a beta of -0.01.

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.