ANTIPODES PARTNERS Ltd Has $13.47 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

ANTIPODES PARTNERS Ltd cut its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 12.8% during the 3rd quarter, Holdings Channel reports. The firm owned 101,901 shares of the company’s stock after selling 14,922 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in PDD were worth $13,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barings LLC grew its position in PDD by 11.5% during the third quarter. Barings LLC now owns 539,000 shares of the company’s stock worth $71,240,000 after buying an additional 55,513 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its position in shares of PDD by 4.3% during the 3rd quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,356,964 shares of the company’s stock valued at $443,690,000 after acquiring an additional 137,125 shares during the period. Sava Infond d.o.o. grew its holdings in shares of PDD by 36.1% during the 3rd quarter. Sava Infond d.o.o. now owns 8,300 shares of the company’s stock worth $1,097,000 after purchasing an additional 2,200 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of PDD by 87.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 28,357 shares of the company’s stock worth $3,748,000 after purchasing an additional 13,192 shares in the last quarter. Finally, WT Asset Management Ltd increased its position in shares of PDD by 15,030.8% in the third quarter. WT Asset Management Ltd now owns 756,540 shares of the company’s stock worth $99,992,000 after purchasing an additional 751,540 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

PDD stock opened at $104.94 on Friday. The stock has a market cap of $146.09 billion and a price-to-earnings ratio of 10.95. The company has a 50 day simple moving average of $108.57 and a 200 day simple moving average of $119.59. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41.

Analysts Set New Price Targets

PDD has been the subject of several recent analyst reports. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Morgan Stanley set a $148.00 price target on shares of PDD in a research report on Thursday, January 15th. Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Four investment 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 has an average rating of “Hold” and an average 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.