PDD Holdings Inc. Sponsored ADR $PDD Stake Boosted by AI Squared Management Ltd

AI Squared Management Ltd boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 389.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 180,508 shares of the company’s stock after acquiring an additional 143,608 shares during the quarter. PDD accounts for 24.8% of AI Squared Management Ltd’s portfolio, making the stock its biggest holding. AI Squared Management Ltd’s holdings in PDD were worth $23,858,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 305 shares during the period. Global Retirement Partners LLC increased its holdings in PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after buying an additional 302 shares during the last quarter. Westside Investment Management Inc. increased its holdings in PDD by 79.9% during the third quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock valued at $60,000 after buying an additional 199 shares during the last quarter. EMC Capital Management bought a new position in PDD in the second quarter worth approximately $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of PDD during the 2nd quarter worth $56,000. Institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

PDD opened at $101.97 on Friday. The stock has a market cap of $141.96 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 0.90 and a beta of -0.01. The firm’s fifty day moving average is $107.17 and its 200 day moving average is $118.78. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PDD. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup reissued a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Finally, Arete Research set a $130.00 price objective on PDD in a research note on Tuesday, December 9th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus target price of $139.87.

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.