Causeway Capital Management LLC Purchases Shares of 309,641 PDD Holdings Inc. Sponsored ADR $PDD

Causeway Capital Management LLC bought a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 309,641 shares of the company’s stock, valued at approximately $40,925,000.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of PDD by 314.4% during the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 305 shares in the last quarter. Global Retirement Partners LLC increased its holdings in PDD by 215.7% in the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after acquiring an additional 302 shares in the last quarter. Westside Investment Management Inc. raised its stake in PDD by 79.9% during the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after acquiring an additional 199 shares during the period. EMC Capital Management purchased a new position in PDD during the second quarter valued at approximately $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in PDD during the second quarter valued at approximately $56,000. 39.83% of the stock is owned by institutional investors.

PDD Stock Up 0.7%

PDD opened at $102.64 on Tuesday. The company has a market capitalization of $142.89 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 0.90 and a beta of -0.01. The firm has a 50-day simple moving average of $106.94 and a two-hundred day simple moving average of $118.64. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41.

Wall Street Analyst Weigh In

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