ANTIPODES PARTNERS Ltd Sells 14,922 Shares of PDD Holdings Inc. Sponsored ADR $PDD

ANTIPODES PARTNERS Ltd decreased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,901 shares of the company’s stock after selling 14,922 shares during the quarter. ANTIPODES PARTNERS Ltd’s holdings in PDD were worth $13,469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDD. Westside Investment Management Inc. grew its stake in shares of PDD by 398.0% in the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after buying an additional 199 shares in the last quarter. Assetmark Inc. raised its position in PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. Global Retirement Partners LLC lifted its stake in PDD by 215.7% in the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after acquiring an additional 302 shares during the last quarter. EMC Capital Management bought a new position in shares of PDD in the 2nd quarter valued at about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of PDD during the 2nd quarter worth about $56,000. Institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PDD shares. Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Bank of America dropped their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Price Performance

PDD opened at $104.94 on Friday. The business has a fifty day simple moving average of $108.57 and a 200 day simple moving average of $119.59. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The company has a market capitalization of $146.09 billion and a PE ratio of 10.95.

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.