Hel Ved Capital Management Ltd Has $5.08 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Hel Ved Capital Management Ltd lowered its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 32.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,437 shares of the company’s stock after selling 18,100 shares during the quarter. PDD makes up approximately 1.1% of Hel Ved Capital Management Ltd’s holdings, making the stock its 21st biggest position. Hel Ved Capital Management Ltd’s holdings in PDD were worth $5,080,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDD. Vanguard Group Inc. raised its position in shares of PDD by 1.1% in the third quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock valued at $4,280,289,000 after purchasing an additional 348,997 shares during the period. Norges Bank acquired a new stake in PDD during the second quarter worth about $962,785,000. Sanders Capital LLC increased its stake in PDD by 21.5% during the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock valued at $892,395,000 after acquiring an additional 1,508,445 shares during the period. Geode Capital Management LLC boosted its stake in PDD by 4.0% during the second quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock worth $646,764,000 after buying an additional 240,627 shares in the last quarter. Finally, Krane Funds Advisors LLC lifted its stake in PDD by 25.5% during the third quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock worth $792,431,000 after purchasing an additional 1,247,634 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $101.97 on Friday. The firm’s 50 day moving average price is $107.17 and its two-hundred day moving average price is $118.78. 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 cap of $141.96 billion, a PE ratio of 10.64, a PEG ratio of 0.89 and a beta of -0.01.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PDD shares. Loop Capital set a $170.00 price objective on PDD in a report on Tuesday, January 6th. Morgan Stanley set a $148.00 price objective on shares of PDD in a research report on Thursday, January 15th. Sanford C. Bernstein set a $135.00 price objective on PDD in a research report on Tuesday, November 18th. Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.