Greenwoods Asset Management Hong Kong Ltd. Increases Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.3% during the third quarter, Holdings Channel reports. The institutional investor owned 3,356,964 shares of the company’s stock after acquiring an additional 137,125 shares during the quarter. PDD makes up approximately 10.0% of Greenwoods Asset Management Hong Kong Ltd.’s investment portfolio, making the stock its 4th biggest position. Greenwoods Asset Management Hong Kong Ltd.’s holdings in PDD were worth $443,690,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PDD. Lido Advisors LLC boosted its stake in PDD by 4.6% during the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock worth $276,000 after acquiring an additional 115 shares in the last quarter. Range Financial Group LLC lifted its holdings 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 valued at $461,000 after purchasing an additional 116 shares during the last quarter. Savant Capital LLC boosted its position in shares of PDD by 5.2% in the 3rd quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock worth $407,000 after purchasing an additional 151 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of PDD by 398.0% in the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after buying an additional 199 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its position in PDD by 10.8% during the 2nd quarter. Bridgewater Advisors Inc. now owns 2,367 shares of the company’s stock valued at $273,000 after buying an additional 230 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

PDD stock opened at $104.94 on Friday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The business’s fifty day moving average is $108.57 and its 200 day moving average is $119.59. The stock has a market capitalization of $146.09 billion and a PE ratio of 10.95.

Analyst Upgrades and Downgrades

Several research firms have commented on PDD. Bank of America dropped their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Finally, Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, PDD currently has an average rating of “Hold” and an average target price of $139.87.

PDD 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.