PDD Holdings Inc. Sponsored ADR $PDD Holdings Boosted by Triata Capital Ltd

Triata Capital Ltd boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 55.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,544,478 shares of the company’s stock after purchasing an additional 910,150 shares during the quarter. PDD accounts for 39.3% of Triata Capital Ltd’s investment portfolio, making the stock its largest position. Triata Capital Ltd’s holdings in PDD were worth $336,304,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in shares of PDD by 20.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,130 shares of the company’s stock worth $414,000 after acquiring an additional 542 shares during the last quarter. AI Squared Management Ltd boosted its position in shares of PDD by 389.2% during the 3rd quarter. AI Squared Management Ltd now owns 180,508 shares of the company’s stock valued at $23,858,000 after acquiring an additional 143,608 shares during the last quarter. Charles Lim Capital Ltd acquired a new position in shares of PDD during the 3rd quarter valued at about $79,302,000. Blair William & Co. IL purchased a new stake in shares of PDD in the third quarter valued at about $329,000. Finally, Orion Porfolio Solutions LLC increased its position in PDD by 316.9% during the third quarter. Orion Porfolio Solutions LLC now owns 45,262 shares of the company’s stock worth $5,982,000 after purchasing an additional 34,405 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PDD shares. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research note on Tuesday, November 18th. Loop Capital set a $170.00 price target on shares of PDD in a research note on Tuesday, January 6th. Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Bank of America reduced their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Finally, Morgan Stanley set a $148.00 price objective on PDD in a report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Trading Up 1.2%

Shares of PDD opened at $101.97 on Friday. The company’s 50-day moving average price is $107.17 and its 200 day moving average price is $118.78. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The firm has a market cap of $141.96 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 0.90 and a beta of -0.01.

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.