PDD Holdings Inc. Sponsored ADR $PDD is TB Alternative Assets Ltd.’s 5th Largest Position

TB Alternative Assets Ltd. cut its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,228 shares of the company’s stock after selling 5,660 shares during the quarter. PDD makes up approximately 6.3% of TB Alternative Assets Ltd.’s holdings, making the stock its 5th largest holding. TB Alternative Assets Ltd.’s holdings in PDD were worth $38,578,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the period. Binnacle Investments Inc increased its stake in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares during the period. Wexford Capital LP bought a new position in shares of PDD during the third quarter valued at approximately $44,000. Assetmark Inc. raised its holdings in shares of PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after acquiring an additional 353 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PDD shares. Morgan Stanley set a $148.00 price target on shares of PDD in a report on Thursday, January 15th. Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Friday, March 27th. Arete Research set a $130.00 target price on shares of PDD in a research report on Tuesday, December 9th. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $140.27.

PDD Stock Down 0.4%

Shares of PDD stock opened at $101.78 on Thursday. The business’s fifty day moving average is $102.59 and its 200 day moving average is $115.91. The stock has a market cap of $141.69 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.96 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41.

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.