PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP trimmed its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 46.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,186 shares of the company’s stock after selling 8,014 shares during the period. Hudson Bay Capital Management LP’s holdings in PDD were worth $1,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Binnacle Investments Inc lifted its holdings in PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. Wexford Capital LP bought a new stake in shares of PDD in the 3rd quarter valued at approximately $44,000. Assetmark Inc. increased its holdings in shares of PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 305 shares during the last quarter. Larson Financial Group LLC raised its position in shares of PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 353 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of PDD during the 2nd quarter valued at approximately $56,000. 39.83% of the stock is owned by institutional investors.

PDD Stock Performance

PDD stock opened at $96.18 on Monday. The firm has a market capitalization of $133.90 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 0.85 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41. The company has a 50 day moving average price of $104.00 and a 200 day moving average price of $117.26.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Loop Capital set a $170.00 target price on PDD in a research note on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Arete Research set a $130.00 price target on PDD in a report on Tuesday, December 9th. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus target price of $140.57.

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.