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

Greenwoods Asset Management Hong Kong Ltd. increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,356,964 shares of the company’s stock after acquiring an additional 137,125 shares during the period. PDD comprises about 10.0% of Greenwoods Asset Management Hong Kong Ltd.’s holdings, making the stock its 4th largest holding. Greenwoods Asset Management Hong Kong Ltd. owned approximately 0.24% of PDD worth $443,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PDD. Lido Advisors LLC increased its stake in PDD by 4.6% in the 2nd quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock worth $276,000 after purchasing an additional 115 shares during the period. Range Financial Group LLC increased its stake in shares of PDD by 3.4% in the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock worth $461,000 after buying an additional 116 shares during the period. Savant Capital LLC raised its holdings in PDD by 5.2% during the 3rd quarter. Savant Capital LLC now owns 3,079 shares of the company’s stock valued at $407,000 after buying an additional 151 shares during the last quarter. 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 valued at $26,000 after buying an additional 199 shares during the last quarter. Finally, Bridgewater Advisors Inc. boosted 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 during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

PDD stock opened at $104.94 on Friday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The stock’s 50 day simple moving average is $108.57 and its two-hundred day simple moving average is $119.59. The stock has a market cap of $146.09 billion and a price-to-earnings ratio of 10.95.

Analyst Ratings Changes

A number of equities analysts have issued reports on PDD shares. Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Morgan Stanley set a $148.00 price objective on PDD in a report on Thursday, January 15th. Finally, Sanford C. Bernstein set a $135.00 target price on PDD in a research note on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average target price of $139.87.

PDD Company 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.