PDD Holdings Inc. Sponsored ADR $PDD is Matthews International Capital Management LLC’s Largest Position

Matthews International Capital Management LLC lowered its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 493,802 shares of the company’s stock after selling 6,224 shares during the quarter. PDD comprises about 15.2% of Matthews International Capital Management LLC’s holdings, making the stock its largest position. Matthews International Capital Management LLC’s holdings in PDD were worth $65,266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PDD. Raymond James Financial Inc. lifted its position in PDD by 21.8% during the 1st quarter. Raymond James Financial Inc. now owns 39,118 shares of the company’s stock worth $4,630,000 after acquiring an additional 7,013 shares during the period. Ieq Capital LLC raised its stake in shares of PDD by 26.7% during the first quarter. Ieq Capital LLC now owns 7,019 shares of the company’s stock worth $831,000 after purchasing an additional 1,480 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of PDD during the first quarter worth $880,000. State of Wyoming grew its position in PDD by 51.3% in the 1st quarter. State of Wyoming now owns 4,780 shares of the company’s stock valued at $566,000 after buying an additional 1,620 shares during the last quarter. Finally, Vident Advisory LLC grew its position in PDD by 3.5% in the 1st quarter. Vident Advisory LLC now owns 10,109 shares of the company’s stock valued at $1,196,000 after buying an additional 338 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 1.4%

Shares of PDD opened at $115.01 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The firm has a market capitalization of $160.11 billion, a P/E ratio of 12.01, a PEG ratio of 1.29 and a beta of 0.07. The firm’s 50-day moving average is $122.71 and its two-hundred day moving average is $119.47.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PDD shares. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Wall Street Zen raised shares of PDD from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. 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. Finally, Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Five research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $136.43.

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.