BI Asset Management Fondsmaeglerselskab A S Acquires 164,414 Shares of PDD Holdings Inc. Sponsored ADR $PDD

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1,113.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 179,175 shares of the company’s stock after buying 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 and hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. raised its holdings in shares of PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after acquiring an additional 199 shares during the period. Ameritas Advisory Services LLC acquired a new position in PDD in the 2nd quarter worth $28,000. Global Retirement Partners LLC increased its holdings in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after purchasing an additional 302 shares in the last quarter. EMC Capital Management bought a new position in PDD during the 2nd quarter worth about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of PDD in the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Morgan Stanley set a $148.00 target price on PDD in a research note on Thursday, January 15th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Bank of America decreased their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Finally, Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Stock Down 1.1%

NASDAQ:PDD opened at $102.15 on Thursday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The firm has a market capitalization of $142.21 billion and a price-to-earnings ratio of 10.66. The stock’s 50 day moving average price is $111.77 and its two-hundred day moving average price is $120.62.

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.