Aberdeen Group plc Sells 214,315 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Aberdeen Group plc cut its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,013,878 shares of the company’s stock after selling 214,315 shares during the quarter. Aberdeen Group plc owned approximately 0.07% of PDD worth $114,964,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PDD. GAMMA Investing LLC lifted its holdings in shares of PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the period. Binnacle Investments Inc increased its stake in shares of PDD by 281.7% during 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 during the period. Wexford Capital LP bought a new stake in shares of PDD in the third quarter valued at about $44,000. Assetmark Inc. raised its holdings 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 acquiring an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after acquiring an additional 353 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD opened at $100.87 on Friday. The firm has a market capitalization of $140.43 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 0.96 and a beta of 0.07. The business’s 50-day moving average is $102.49 and its two-hundred day moving average is $115.81. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Arete Research set a $130.00 price target on shares of PDD in a report on Tuesday, December 9th. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Friday, March 27th. Finally, Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, PDD has a consensus rating of “Hold” and an average target price of $140.27.

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.