PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Orion Porfolio Solutions LLC

Orion Porfolio Solutions LLC raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 316.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,262 shares of the company’s stock after buying an additional 34,405 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in PDD were worth $5,982,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. EMC Capital Management purchased a new stake in shares of PDD during the second quarter worth about $52,000. Assetmark Inc. raised its position in shares of PDD by 314.4% in 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 last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of PDD in the 2nd quarter valued at approximately $56,000. Global Retirement Partners LLC boosted its stake 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 purchasing an additional 302 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in PDD by 79.9% in the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Loop Capital set a $170.00 price target on shares of PDD in a research note on Tuesday, January 6th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Arete Research set a $130.00 price objective on shares of PDD in a report on Tuesday, December 9th. Bank of America cut their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Finally, Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $139.87.

PDD Trading Up 1.2%

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

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.