Carrhae Capital LLP Cuts Stake in PDD Holdings Inc. Sponsored ADR $PDD

Carrhae Capital LLP cut its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 42.5% during the fourth quarter, Holdings Channel reports. The firm owned 222,654 shares of the company’s stock after selling 164,270 shares during the quarter. PDD makes up 1.0% of Carrhae Capital LLP’s portfolio, making the stock its 25th biggest holding. Carrhae Capital LLP’s holdings in PDD were worth $25,247,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its position in shares of PDD by 214.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,389 shares of the company’s stock valued at $157,000 after buying an additional 947 shares during the last quarter. ABN Amro Investment Solutions purchased a new position in PDD during the fourth quarter valued at $714,000. IFP Advisors Inc increased its holdings in PDD by 5,346.4% in the 4th quarter. IFP Advisors Inc now owns 3,050 shares of the company’s stock valued at $346,000 after acquiring an additional 2,994 shares during the last quarter. Banque Cantonale Vaudoise lifted its stake in PDD by 50.6% in the 4th quarter. Banque Cantonale Vaudoise now owns 5,665 shares of the company’s stock worth $642,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. increased its holdings in shares of PDD by 18.2% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,968,270 shares of the company’s stock worth $449,962,000 after purchasing an additional 611,306 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Down 3.3%

PDD stock opened at $94.52 on Friday. The firm’s fifty day simple moving average is $99.73 and its two-hundred day simple moving average is $108.02. The stock has a market capitalization of $134.54 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 0.92 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a twelve month low of $92.57 and a twelve month high of $139.41.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Nomura upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Friday, March 27th. Finally, Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Friday, April 17th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $137.86.

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.