Investment House LLC Invests $2.37 Million in PDD Holdings Inc. Sponsored ADR $PDD

Investment House LLC acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 17,913 shares of the company’s stock, valued at approximately $2,368,000.

Other large investors have also bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in PDD by 398.0% during 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 period. Ameritas Advisory Services LLC acquired a new position in shares of PDD in the second quarter valued at approximately $28,000. EMC Capital Management bought a new stake in shares of PDD during the second quarter worth $52,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of PDD during the second quarter worth $56,000. Finally, Global Retirement Partners LLC lifted its position in PDD by 215.7% in the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after acquiring an additional 302 shares in the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

PDD has been the subject of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of PDD in a research note on Tuesday. Arete Research set a $130.00 price objective on PDD in a research report on Tuesday, December 9th. Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a report on Friday. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Price Performance

Shares of NASDAQ PDD opened at $106.38 on Friday. The business has a 50-day moving average of $113.90 and a 200-day moving average of $120.73. The stock has a market capitalization of $148.10 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.99 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

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.