PDD Holdings Inc. Sponsored ADR $PDD Stock Position Lifted by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.1% in the 4th quarter, HoldingsChannel reports. The firm owned 90,663 shares of the company’s stock after purchasing an additional 6,023 shares during the quarter. iA Global Asset Management Inc.’s holdings in PDD were worth $10,280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of PDD. Focus Partners Wealth grew its stake in shares of PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after purchasing an additional 7,744 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of PDD by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock worth $174,000 after purchasing an additional 637 shares in the last quarter. Cerity Partners LLC grew its stake in shares of PDD by 2.0% in the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after purchasing an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of PDD by 0.3% in the second quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after purchasing an additional 369 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $95.83 on Monday. The stock has a 50-day simple moving average of $100.34 and a 200 day simple moving average of $109.23. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $93.81 and a fifty-two week high of $139.41. The stock has a market capitalization of $136.40 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.90 and a beta of 0.04.

Analyst Upgrades and Downgrades

PDD has been the subject of several research reports. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, April 17th. Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 target price for the company in a research note on Friday, March 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $137.86.

About PDD

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.