American Century Companies Inc. Purchases 198,179 Shares of PDD Holdings Inc. Sponsored ADR $PDD

American Century Companies Inc. raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 26.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 952,302 shares of the company’s stock after purchasing an additional 198,179 shares during the period. American Century Companies Inc.’s holdings in PDD were worth $125,866,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its position in shares of PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares in the last quarter. EMC Capital Management acquired a new stake in PDD during the 2nd quarter worth $52,000. Assetmark Inc. lifted its holdings in PDD by 314.4% during the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after acquiring an additional 305 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in PDD during the second quarter worth about $56,000. Finally, Global Retirement Partners LLC grew its stake in 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 acquiring an additional 302 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 1.6%

NASDAQ PDD opened at $103.73 on Monday. The firm’s 50 day moving average is $108.35 and its 200-day moving average is $119.36. The company has a market capitalization of $144.41 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 0.95 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of research analyst reports. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research note on Tuesday, November 18th. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. 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, PDD currently 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.