PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Gunderson Capital Management Inc.

Gunderson Capital Management Inc. lifted its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1,298.1% in the third quarter, HoldingsChannel reports. The firm owned 27,180 shares of the company’s stock after acquiring an additional 25,236 shares during the quarter. PDD makes up about 1.3% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 28th biggest position. Gunderson Capital Management Inc.’s holdings in PDD were worth $3,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PDD. Cigna Investments Inc. New boosted its stake in shares of PDD by 3.6% in the 3rd quarter. Cigna Investments Inc. New now owns 12,683 shares of the company’s stock valued at $1,676,000 after buying an additional 442 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in PDD by 30.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,612,868 shares of the company’s stock valued at $213,173,000 after acquiring an additional 380,141 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in PDD by 4.0% in the third quarter. Asset Management One Co. Ltd. now owns 124,908 shares of the company’s stock worth $16,509,000 after acquiring an additional 4,766 shares during the last quarter. Global Retirement Partners LLC grew its holdings in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after acquiring an additional 302 shares in the last quarter. Finally, MN Wealth Advisors LLC purchased a new stake in shares of PDD in the 3rd quarter valued at approximately $212,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PDD. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Arete downgraded PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a report on Tuesday, December 9th. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Loop Capital set a $170.00 price objective on PDD in a report on Tuesday. Finally, Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $138.67.

PDD Stock Performance

PDD stock opened at $122.66 on Wednesday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The company has a market capitalization of $170.76 billion, a P/E ratio of 12.80, a PEG ratio of 1.11 and a beta of 0.02. The stock has a 50-day simple moving average of $120.25 and a 200-day simple moving average of $120.27.

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.