Dimensional Fund Advisors LP Raises Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Dimensional Fund Advisors LP raised its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,426,879 shares of the company’s stock after buying an additional 119,738 shares during the period. Dimensional Fund Advisors LP’s holdings in PDD were worth $452,671,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake in shares of PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the last quarter. EMC Capital Management purchased a new position in PDD during the 2nd quarter valued at about $52,000. Assetmark Inc. increased its holdings in PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after purchasing an additional 305 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in PDD during the 2nd quarter valued at approximately $56,000. Finally, Global Retirement Partners LLC lifted its holdings in PDD by 215.7% in the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after buying an additional 302 shares during the period. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PDD shares. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. 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 price objective on shares of PDD in a report on Thursday, January 15th. Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 19th. Finally, Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research note on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PDD has an average rating of “Hold” and an average price target of $139.87.

PDD Stock Performance

PDD stock opened at $101.19 on Thursday. The firm has a 50 day moving average price of $107.69 and a 200-day moving average price of $119.02. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41. The firm has a market capitalization of $140.87 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.93 and a beta of -0.01.

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.