Newlands Management Operations LLC Grows Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Newlands Management Operations LLC increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 121.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,050 shares of the company’s stock after buying an additional 6,612 shares during the period. PDD comprises approximately 0.0% of Newlands Management Operations LLC’s holdings, making the stock its 20th largest position. Newlands Management Operations LLC’s holdings in PDD were worth $1,593,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. EMC Capital Management bought a new stake in PDD during the second quarter valued at about $52,000. Assetmark Inc. grew its position in shares of PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of PDD during the second quarter worth about $56,000. Global Retirement Partners LLC raised its stake in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after purchasing an additional 302 shares during the period. Finally, Westside Investment Management Inc. lifted its holdings in PDD by 79.9% in the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

NASDAQ PDD opened at $102.65 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The business has a 50 day simple moving average of $106.05 and a two-hundred day simple moving average of $118.08. The stock has a market capitalization of $142.90 billion, a PE ratio of 10.72, a P/E/G ratio of 0.90 and a beta of -0.01.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PDD. Bank of America dropped their price target on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Loop Capital set a $170.00 price objective on shares of PDD in a research report on Tuesday, January 6th. Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Arete Research set a $130.00 target price on shares of PDD in a research report on Tuesday, December 9th. Finally, Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, PDD has an average rating of “Hold” and an average 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.