PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by 3G Capital Partners LP

3G Capital Partners LP reduced its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 76.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the company’s stock after selling 325,000 shares during the quarter. PDD makes up about 3.1% of 3G Capital Partners LP’s investment portfolio, making the stock its 13th biggest holding. 3G Capital Partners LP’s holdings in PDD were worth $13,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Binnacle Investments Inc raised its position in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. EMC Capital Management acquired a new position in PDD in the second quarter worth $52,000. Assetmark Inc. boosted its holdings in PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 305 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in PDD during the second quarter valued at $56,000. Finally, Global Retirement Partners LLC increased its stake 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 purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PDD. Loop Capital set a $170.00 price target on shares of PDD in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. 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. Finally, Bank of America decreased their target price on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, PDD has a consensus rating of “Hold” and an average target price of $139.87.

PDD Price Performance

Shares of PDD stock opened at $102.65 on Friday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The firm has a market capitalization of $142.90 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.90 and a beta of -0.01. The business has a 50 day simple moving average of $106.05 and a 200 day simple moving average of $118.04.

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.