Hantz Financial Services Inc. Boosts Stake in PDD Holdings Inc. Sponsored ADR $PDD

Hantz Financial Services Inc. lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 473.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,594 shares of the company’s stock after purchasing an additional 19,480 shares during the quarter. Hantz Financial Services Inc.’s holdings in PDD were worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gunderson Capital Management Inc. lifted its stake in 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 in the last quarter. Lido Advisors LLC raised its holdings in shares of PDD by 4.6% in the 2nd quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after buying an additional 115 shares during the period. Range Financial Group LLC lifted its stake 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 in the last quarter. Westside Investment Management Inc. boosted its holdings in 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 period. Finally, Bridgewater Advisors Inc. grew its position in PDD by 10.8% in the 2nd quarter. Bridgewater Advisors Inc. now owns 2,367 shares of the company’s stock valued at $273,000 after acquiring an additional 230 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Price Performance

Shares of NASDAQ:PDD opened at $101.52 on Friday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41. The firm has a market capitalization of $141.33 billion and a P/E ratio of 10.60. The company’s fifty day moving average price is $111.48 and its 200 day moving average price is $120.49.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Arete Research set a $130.00 price target on shares of PDD in a research note on Tuesday, December 9th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Sanford C. Bernstein set a $135.00 target price on PDD in a report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.87.

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.