PDD Holdings Inc. Sponsored ADR $PDD Position Trimmed by First Trust Advisors LP

First Trust Advisors LP lowered its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 35.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 759,737 shares of the company’s stock after selling 423,426 shares during the period. First Trust Advisors LP owned approximately 0.05% of PDD worth $100,414,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Orion Porfolio Solutions LLC boosted its stake in shares of PDD by 316.9% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 45,262 shares of the company’s stock worth $5,982,000 after acquiring an additional 34,405 shares in the last quarter. Integrated Quantitative Investments LLC raised its position in shares of PDD by 184.1% during the third quarter. Integrated Quantitative Investments LLC now owns 37,723 shares of the company’s stock worth $4,986,000 after purchasing an additional 24,443 shares during the period. IFG Advisory LLC acquired a new stake in shares of PDD during the third quarter worth $362,000. Dimensional Fund Advisors LP lifted its holdings in shares of PDD by 3.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,426,879 shares of the company’s stock valued at $452,671,000 after purchasing an additional 119,738 shares during the last quarter. Finally, United American Securities Inc. d b a UAS Asset Management purchased a new stake in shares of PDD during the third quarter valued at $1,652,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 1.2%

NASDAQ:PDD opened at $101.97 on Monday. The business’s fifty day moving average price is $107.17 and its 200 day moving average price is $118.78. The firm has a market capitalization of $141.96 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 0.90 and a beta of -0.01. 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

PDD has been the topic of a number of analyst reports. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $139.87.

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.