BI Asset Management Fondsmaeglerselskab A S Has $23.68 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1,113.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 179,175 shares of the company’s stock after purchasing an additional 164,414 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in PDD were worth $23,682,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Gunderson Capital Management Inc. lifted its position in shares of PDD by 5.5% in the second quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock valued at $203,000 after buying an additional 101 shares during the last quarter. Lido Advisors LLC raised its stake in PDD by 4.6% in the 2nd quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after acquiring an additional 115 shares during the period. Range Financial Group LLC lifted its holdings in PDD by 3.4% during the 3rd quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock valued at $461,000 after purchasing an additional 116 shares during the last quarter. Savant Capital LLC boosted its position in 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 period. Finally, Westside Investment Management Inc. increased its holdings in shares of PDD by 398.0% in the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Down 1.1%

NASDAQ PDD opened at $102.15 on Thursday. The company has a market cap of $142.21 billion and a price-to-earnings ratio of 10.66. The company has a 50 day moving average of $111.77 and a 200-day moving average of $120.62. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Bank of America cut their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, PDD has an average rating of “Hold” and a consensus price target of $139.87.

PDD Company Profile

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.