Caprock Group LLC Acquires Shares of 5,603 PDD Holdings Inc. Sponsored ADR $PDD

Caprock Group LLC bought a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,603 shares of the company’s stock, valued at approximately $674,000.

A number of other hedge funds also recently made changes to their positions in the company. Westside Investment Management Inc. grew 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 buying an additional 199 shares in the last quarter. EMC Capital Management bought a new position in shares of PDD during the 2nd quarter valued at approximately $52,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of PDD in the second quarter valued at $56,000. Global Retirement Partners LLC grew its holdings in shares of PDD by 215.7% in the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Finally, MAI Capital Management increased its position in PDD by 1,961.2% in the second quarter. MAI Capital Management now owns 1,010 shares of the company’s stock worth $106,000 after purchasing an additional 961 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PDD shares. Morgan Stanley set a $148.00 price objective on shares of PDD in a research report on Thursday, January 15th. Arete Research set a $130.00 price target on PDD in a research report on Tuesday, December 9th. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Sanford C. Bernstein set a $135.00 target price on PDD in a research report on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $139.87.

PDD Trading Up 0.1%

Shares of PDD stock opened at $100.28 on Tuesday. The stock’s fifty day moving average price is $109.46 and its 200-day moving average price is $119.94. The firm has a market cap of $139.60 billion and a P/E ratio of 10.47. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41.

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.