GF Fund Management CO. LTD. Lowers Stake in PDD Holdings Inc. Sponsored ADR $PDD

GF Fund Management CO. LTD. reduced its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 13.0% during the third quarter, HoldingsChannel reports. The firm owned 793,042 shares of the company’s stock after selling 118,044 shares during the period. PDD comprises 1.9% of GF Fund Management CO. LTD.’s portfolio, making the stock its 10th biggest holding. GF Fund Management CO. LTD.’s holdings in PDD were worth $104,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Focus Partners Wealth increased its position in shares of PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the last quarter. Intech Investment Management LLC boosted its stake in PDD by 2.7% during the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after buying an additional 395 shares during the last quarter. Apollon Wealth Management LLC raised its stake in PDD by 17.6% during the second quarter. Apollon Wealth Management LLC now owns 3,574 shares of the company’s stock valued at $374,000 after purchasing an additional 536 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in PDD by 19.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,533 shares of the company’s stock worth $1,626,000 after acquiring an additional 2,546 shares during the last quarter. Finally, Sagespring Wealth Partners LLC boosted its stake in PDD by 13.4% during the second quarter. Sagespring Wealth Partners LLC now owns 2,931 shares of the company’s stock worth $307,000 after buying an additional 346 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Up 0.1%

Shares of NASDAQ PDD opened at $100.28 on Friday. The stock has a 50 day moving average of $109.81 and a two-hundred day moving average of $119.98. The stock has a market cap of $139.60 billion and a P/E ratio of 10.47. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Arete Research set a $130.00 price objective on PDD in a report on Tuesday, December 9th. Zacks Research lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Bank of America lowered 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. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, PDD presently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Company 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.