Nipun Capital L.P. Reduces Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Nipun Capital L.P. cut its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 35.0% during the third quarter, HoldingsChannel.com reports. The fund owned 16,900 shares of the company’s stock after selling 9,100 shares during the quarter. PDD makes up approximately 47.1% of Nipun Capital L.P.’s investment portfolio, making the stock its 2nd biggest holding. Nipun Capital L.P.’s holdings in PDD were worth $2,278,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the company. Westside Investment Management Inc. increased its holdings in PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the period. Ameritas Advisory Services LLC bought a new position in shares of PDD during the 2nd quarter worth $28,000. EMC Capital Management purchased a new position in shares of PDD during the second quarter valued at $52,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of PDD during the second quarter valued at $56,000. Finally, Activest Wealth Management raised its holdings in shares of PDD by 139.1% in the second quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after acquiring an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup reissued a “buy” rating on shares of PDD in a research report on Monday, August 25th. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Benchmark reissued a “buy” rating and issued a $160.00 price objective (up previously from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $136.43.

PDD Trading Down 3.7%

NASDAQ PDD opened at $105.00 on Thursday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The firm’s fifty day simple moving average is $124.94 and its two-hundred day simple moving average is $118.88. The firm has a market capitalization of $146.18 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.22 and a beta of 0.07.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.