Maytree Asset Management Ltd Has $58.18 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Maytree Asset Management Ltd reduced its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 96.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 513,112 shares of the company’s stock after selling 14,781,537 shares during the quarter. PDD makes up approximately 43.1% of Maytree Asset Management Ltd’s holdings, making the stock its largest holding. Maytree Asset Management Ltd’s holdings in PDD were worth $58,182,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. GAMMA Investing LLC increased its holdings in PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after purchasing an additional 238 shares in the last quarter. Binnacle Investments Inc boosted its stake in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after purchasing an additional 200 shares in the last quarter. Wexford Capital LP bought a new stake in shares of PDD during the third quarter worth $44,000. Assetmark Inc. grew its holdings in shares of PDD by 314.4% during 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. Finally, Larson Financial Group LLC increased its stake in shares of PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock valued at $53,000 after buying an additional 353 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PDD shares. Morgan Stanley set a $148.00 price target on PDD in a report on Thursday, January 15th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Friday, April 17th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a report on Friday, March 27th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, PDD currently has an average rating of “Hold” and a consensus target price of $139.67.

PDD Trading Down 1.1%

Shares of PDD opened at $96.75 on Wednesday. The stock has a market cap of $134.69 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.92 and a beta of 0.04. PDD Holdings Inc. Sponsored ADR has a 1 year low of $95.24 and a 1 year high of $139.41. The stock’s 50-day moving average price is $101.25 and its two-hundred day moving average price is $111.10.

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.