PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Lessened by Matthews International Capital Management LLC

Matthews International Capital Management LLC lessened its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 24.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 370,640 shares of the company’s stock after selling 123,162 shares during the period. PDD makes up 12.8% of Matthews International Capital Management LLC’s portfolio, making the stock its largest position. Matthews International Capital Management LLC’s holdings in PDD were worth $42,027,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Advisory Services Network LLC lifted its position in PDD by 0.7% during the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after acquiring an additional 102 shares during the period. West Family Investments Inc. grew its stake in shares of PDD by 2.8% in the 3rd quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after purchasing an additional 110 shares during the last quarter. Lido Advisors LLC increased its holdings in shares of PDD by 4.6% in the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after purchasing an additional 115 shares during the period. Range Financial Group LLC raised its stake in shares of PDD by 3.4% during the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock worth $461,000 after purchasing an additional 116 shares during the last quarter. Finally, Savant Capital LLC raised its stake in shares of PDD by 5.2% during the third quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock worth $407,000 after purchasing an additional 151 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the subject of several recent research reports. Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a report on Friday, March 27th. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Finally, Morgan Stanley set a $148.00 price target on shares of PDD in a research note on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Hold” and an average price target of $140.27.

PDD Stock Performance

Shares of PDD opened at $100.87 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The firm has a market capitalization of $140.43 billion, a P/E ratio of 10.73, a PEG ratio of 0.95 and a beta of 0.07. The firm’s 50-day moving average is $102.38 and its two-hundred day moving average is $115.53.

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.