KEYWISE CAPITAL MANAGEMENT HK Ltd Has $29.06 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

KEYWISE CAPITAL MANAGEMENT HK Ltd trimmed its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 84.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,850 shares of the company’s stock after selling 1,170,200 shares during the quarter. PDD accounts for approximately 2.2% of KEYWISE CAPITAL MANAGEMENT HK Ltd’s holdings, making the stock its 7th largest position. KEYWISE CAPITAL MANAGEMENT HK Ltd’s holdings in PDD were worth $29,058,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hidden Lake Asset Management LP bought a new position in PDD in the third quarter valued at about $15,972,000. Holocene Advisors LP bought a new stake in shares of PDD during the 3rd quarter valued at about $11,040,000. Focus Partners Wealth increased its position in shares of PDD by 17.7% during the 3rd quarter. Focus Partners Wealth now owns 13,744 shares of the company’s stock valued at $1,817,000 after purchasing an additional 2,066 shares during the last quarter. Bamco Inc. NY increased its position in shares of PDD by 16.1% during the 3rd quarter. Bamco Inc. NY now owns 62,386 shares of the company’s stock valued at $8,246,000 after purchasing an additional 8,643 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of PDD by 12.5% in the third quarter. California Public Employees Retirement System now owns 1,194,229 shares of the company’s stock worth $157,841,000 after buying an additional 132,789 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PDD. Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Loop Capital set a $170.00 price target on shares of PDD in a research note on Tuesday, January 6th. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Trading Up 1.0%

PDD stock opened at $102.65 on Monday. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $139.41. The firm has a market capitalization of $142.90 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.90 and a beta of -0.01. The firm has a 50 day moving average of $106.05 and a 200 day moving average of $118.01.

About PDD

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.