Y Intercept Hong Kong Ltd Decreases Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Y Intercept Hong Kong Ltd reduced its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,421 shares of the company’s stock after selling 13,666 shares during the period. Y Intercept Hong Kong Ltd’s holdings in PDD were worth $6,928,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Gunderson Capital Management Inc. grew its holdings in shares of PDD by 5.5% during the second quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock worth $203,000 after purchasing an additional 101 shares during the last quarter. Lido Advisors LLC grew its holdings in shares of PDD by 4.6% during the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock worth $276,000 after buying an additional 115 shares during the last quarter. Range Financial Group LLC lifted its position in PDD by 3.4% during the 3rd quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock worth $461,000 after acquiring an additional 116 shares during the period. Westside Investment Management Inc. raised its stake in shares of PDD by 398.0% during the second 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 last quarter. Finally, Bridgewater Advisors Inc. lifted its holdings in shares of PDD by 10.8% during the second quarter. Bridgewater Advisors Inc. now owns 2,367 shares of the company’s stock worth $273,000 after purchasing an additional 230 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Up 0.3%

Shares of NASDAQ:PDD opened at $106.38 on Friday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The stock’s 50-day moving average price is $113.90 and its two-hundred day moving average price is $120.73. The firm has a market cap of $148.10 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.99 and a beta of 0.02.

Analyst Ratings Changes

PDD has been the topic of several recent analyst reports. Bank of America dropped 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. Arete Research set a $130.00 price objective on shares of PDD in a research note on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a report on Tuesday, November 18th. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Finally, Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and ten have assigned 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 Company 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.