Alberta Investment Management Corp Has $2.29 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Alberta Investment Management Corp lowered its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 76.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,300 shares of the company’s stock after selling 57,700 shares during the quarter. Alberta Investment Management Corp’s holdings in PDD were worth $2,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake 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 purchasing an additional 199 shares during the period. Assetmark Inc. grew its holdings in shares of PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Global Retirement Partners LLC raised its position in PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after buying an additional 302 shares during the period. EMC Capital Management acquired a new position in PDD during the second quarter valued at $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in PDD in the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Ratings Changes

PDD has been the topic of several research analyst reports. Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Morgan Stanley set a $148.00 price target on shares of PDD in a report on Thursday, January 15th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Finally, Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $139.87.

PDD Stock Performance

Shares of PDD stock opened at $101.95 on Friday. The stock has a market capitalization of $141.93 billion and a price-to-earnings ratio of 10.64. The company’s 50-day simple moving average is $108.71 and its 200-day simple moving average is $119.64. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41.

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.