BIT Capital GmbH Sells 267,160 Shares of PDD Holdings Inc. Sponsored ADR $PDD

BIT Capital GmbH lowered its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 59.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 183,423 shares of the company’s stock after selling 267,160 shares during the quarter. BIT Capital GmbH’s holdings in PDD were worth $24,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. TB Alternative Assets Ltd. boosted its position in PDD by 62.5% during the 3rd quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock valued at $45,716,000 after buying an additional 133,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock worth $48,694,000 after purchasing an additional 54,418 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in PDD during the 3rd quarter valued at about $2,790,000. Nomura Holdings Inc. lifted its holdings in PDD by 67.1% in the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock worth $18,173,000 after buying an additional 69,728 shares during the period. Finally, Freemont Capital Pte Ltd lifted its holdings in PDD by 19.2% in the 2nd quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after buying an additional 5,000 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Trading Down 0.9%

PDD stock opened at $101.95 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 has a fifty day simple moving average of $108.71 and a two-hundred day simple moving average of $119.64. The firm has a market cap of $141.93 billion and a price-to-earnings ratio of 10.64.

Wall Street Analysts Forecast Growth

PDD has been the subject of a number of recent analyst reports. Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. 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. Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Sanford C. Bernstein set a $135.00 target price on PDD in a report on Tuesday, November 18th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.