Quantitative Investment Management LLC Makes New $5.21 Million Investment in PDD Holdings Inc. Sponsored ADR $PDD

Quantitative Investment Management LLC purchased a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,402 shares of the company’s stock, valued at approximately $5,207,000.

A number of other institutional investors have also modified their holdings of PDD. Focus Partners Wealth lifted its position in PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,744 shares during the last quarter. Intech Investment Management LLC grew its holdings in PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in PDD by 6.1% in the second quarter. Envestnet Asset Management Inc. now owns 20,559 shares of the company’s stock worth $2,152,000 after purchasing an additional 1,186 shares during the last quarter. Savant Capital LLC increased its position in shares of PDD by 65.1% during the second quarter. Savant Capital LLC now owns 2,928 shares of the company’s stock worth $306,000 after purchasing an additional 1,155 shares in the last quarter. Finally, AE Wealth Management LLC increased its position in shares of PDD by 32.3% during the second quarter. AE Wealth Management LLC now owns 8,213 shares of the company’s stock worth $860,000 after purchasing an additional 2,004 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

Shares of PDD opened at $101.62 on Friday. The company’s fifty day moving average price is $106.31 and its 200-day moving average price is $118.26. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The firm has a market capitalization of $141.47 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.91 and a beta of -0.01.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PDD. Sanford C. Bernstein set a $135.00 price objective on PDD in a research report on Tuesday, November 18th. Bank of America reduced their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Morgan Stanley set a $148.00 price target on PDD in a research note on Thursday, January 15th. Citigroup reissued a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four equities research analysts have rated the stock with a Buy rating and eleven 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 $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.