PDD Holdings Inc. Sponsored ADR $PDD Stock Holdings Lowered by Myriad Asset Management US LP

Myriad Asset Management US LP lowered its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 44.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,535 shares of the company’s stock after selling 17,092 shares during the quarter. PDD makes up 1.5% of Myriad Asset Management US LP’s investment portfolio, making the stock its 15th largest holding. Myriad Asset Management US LP’s holdings in PDD were worth $2,846,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PDD. Westside Investment Management Inc. increased its holdings in shares of PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of PDD during the 2nd quarter worth about $28,000. Global Retirement Partners LLC raised its position in PDD by 215.7% in the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after purchasing an additional 302 shares during the last quarter. EMC Capital Management bought a new position in shares of PDD in the second quarter worth about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of PDD during the second quarter worth $56,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD opened at $106.02 on Friday. The company’s 50-day moving average is $114.39 and its 200-day moving average is $120.62. The firm has a market capitalization of $147.60 billion, a PE ratio of 11.07, a PEG ratio of 0.99 and a beta of 0.02. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

Analyst Upgrades and Downgrades

Several brokerages have commented on PDD. Bank of America lowered their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Arete Research set a $130.00 price target on PDD in a research note on Tuesday, December 9th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, PDD has a consensus rating of “Hold” and an average price target of $139.87.

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.