IDG China Venture Capital Fund IV Associates L.P. Has $264.08 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

IDG China Venture Capital Fund IV Associates L.P. decreased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 24.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,997,996 shares of the company’s stock after selling 632,986 shares during the quarter. PDD accounts for approximately 55.4% of IDG China Venture Capital Fund IV Associates L.P.’s portfolio, making the stock its largest position. IDG China Venture Capital Fund IV Associates L.P.’s holdings in PDD were worth $264,075,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PDD. Vanguard Group Inc. grew its stake in PDD by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock worth $3,352,859,000 after buying an additional 2,956,249 shares in the last quarter. Norges Bank bought a new stake in shares of PDD during the 2nd quarter worth $962,785,000. Sanders Capital LLC grew its position in PDD by 21.5% in the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after acquiring an additional 1,508,445 shares in the last quarter. Geode Capital Management LLC grew its position in PDD by 4.0% in the second quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock worth $646,764,000 after acquiring an additional 240,627 shares in the last quarter. Finally, Orbis Allan Gray Ltd increased its stake in PDD by 135.6% in the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after acquiring an additional 3,250,416 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PDD. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley set a $148.00 target price on PDD in a research note on Thursday, January 15th. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Bank of America cut their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Finally, Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, PDD has an average rating of “Hold” and an average target price of $139.87.

PDD Stock Performance

NASDAQ:PDD opened at $101.52 on Friday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The firm has a market cap of $141.33 billion and a PE ratio of 10.60. The business has a 50 day moving average price of $111.48 and a 200-day moving average price of $120.49.

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.