Todd Asset Management LLC Reduces Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Todd Asset Management LLC lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDDFree Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,283 shares of the company’s stock after selling 6,152 shares during the quarter. Todd Asset Management LLC’s holdings in PDD were worth $35,411,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. Binnacle Investments Inc boosted its holdings 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 during the last quarter. Wexford Capital LP purchased a new stake in shares of PDD during the 3rd quarter valued at about $44,000. Assetmark Inc. boosted its holdings in shares of PDD by 314.4% during 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. Finally, Larson Financial Group LLC boosted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Friday, March 27th. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research note on Friday, April 17th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, PDD currently has an average rating of “Hold” and a consensus price target of $137.86.

Check Out Our Latest Stock Report on PDD

PDD Price Performance

Shares of NASDAQ:PDD opened at $94.52 on Monday. The firm’s 50 day moving average price is $99.73 and its 200-day moving average price is $107.83. PDD Holdings Inc. Sponsored ADR has a twelve month low of $92.57 and a twelve month high of $139.41. The stock has a market capitalization of $134.54 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.89 and a beta of 0.04.

PDD Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDDFree Report).

Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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