M&G PLC Sells 10,683 Shares of PDD Holdings Inc. Sponsored ADR $PDD

M&G PLC reduced its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,605 shares of the company’s stock after selling 10,683 shares during the quarter. M&G PLC’s holdings in PDD were worth $42,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Westside Investment Management Inc. lifted its position in shares of PDD by 398.0% in the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the period. 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 buying an additional 305 shares during the period. Global Retirement Partners LLC boosted its position in PDD by 215.7% during the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after acquiring an additional 302 shares in the last quarter. EMC Capital Management bought a new stake in PDD during the 2nd quarter valued at $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of PDD in the 2nd quarter valued at $56,000. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Up 0.1%

PDD stock opened at $100.28 on Monday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41. The stock has a market capitalization of $139.60 billion and a PE ratio of 10.47. The firm has a 50 day moving average of $109.81 and a 200 day moving average of $120.03.

Analyst Ratings Changes

PDD has been the subject of a number of analyst reports. Bank of America decreased their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research report on Tuesday, November 18th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Finally, Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $139.87.

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.