Quadrature Capital Ltd Purchases Shares of 228,754 PDD Holdings Inc. Sponsored ADR $PDD

Quadrature Capital Ltd acquired a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 228,754 shares of the company’s stock, valued at approximately $30,228,000.

Several other hedge funds have also modified their holdings of PDD. EMC Capital Management bought a new position in shares of PDD during the 2nd quarter valued at approximately $52,000. Assetmark Inc. increased its position in PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in PDD in the second quarter worth $56,000. Global Retirement Partners LLC raised its stake in PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Finally, Westside Investment Management Inc. raised its stake in PDD by 79.9% during the third quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock valued at $60,000 after purchasing an additional 199 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Down 1.3%

PDD stock opened at $101.62 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The stock has a market capitalization of $141.47 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.91 and a beta of -0.01. The firm’s fifty day simple moving average is $106.31 and its two-hundred day simple moving average is $118.26.

Wall Street Analyst Weigh In

A number of brokerages have commented on PDD. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Loop Capital set a $170.00 target price on shares of PDD in a research report on Tuesday, January 6th. Bank of America lowered their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Arete Research set a $130.00 price objective on PDD in a research report on Tuesday, December 9th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, PDD currently 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.