Carrhae Capital LLP Sells 164,270 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Carrhae Capital LLP reduced its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 42.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,654 shares of the company’s stock after selling 164,270 shares during the period. PDD makes up 1.0% of Carrhae Capital LLP’s portfolio, making the stock its 25th biggest position. Carrhae Capital LLP’s holdings in PDD were worth $25,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of PDD. Binnacle Investments Inc raised its holdings in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC lifted its position in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares in the last quarter. Wexford Capital LP purchased a new stake in PDD during the 3rd quarter valued at $44,000. Assetmark Inc. increased its holdings in shares of PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

PDD has been the topic of several recent analyst reports. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Friday, March 27th. Finally, Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Friday, April 17th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $137.86.

PDD Stock Down 3.3%

PDD stock opened at $94.52 on Friday. The business’s 50-day moving average price is $99.73 and its 200-day moving average price is $108.02. The stock has a market cap of $134.54 billion, a P/E ratio of 10.06, a PEG ratio of 0.92 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a twelve month low of $92.57 and a twelve 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.