Sava Infond d.o.o. Raises Stock Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Sava Infond d.o.o. lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 21.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,300 shares of the company’s stock after purchasing an additional 1,300 shares during the quarter. Sava Infond d.o.o.’s holdings in PDD were worth $864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Asset Management One Co. Ltd. grew its holdings in shares of PDD by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 167,427 shares of the company’s stock worth $19,815,000 after purchasing an additional 8,707 shares in the last quarter. TT International Asset Management LTD purchased a new stake in PDD in the first quarter worth approximately $31,398,000. Blue Trust Inc. boosted its stake in PDD by 26.8% in the first quarter. Blue Trust Inc. now owns 3,084 shares of the company’s stock worth $365,000 after buying an additional 652 shares in the last quarter. Global X Japan Co. Ltd. boosted its stake in PDD by 11.7% in the first quarter. Global X Japan Co. Ltd. now owns 211,454 shares of the company’s stock worth $25,026,000 after buying an additional 22,065 shares in the last quarter. Finally, Janney Capital Management LLC boosted its stake in PDD by 96.1% in the first quarter. Janney Capital Management LLC now owns 70,744 shares of the company’s stock worth $8,373,000 after buying an additional 34,660 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $101.95 on Tuesday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The stock has a 50 day moving average price of $105.40 and a two-hundred day moving average price of $108.45. The company has a market capitalization of $141.93 billion, a P/E ratio of 10.97, a PEG ratio of 1.43 and a beta of 0.42.

Wall Street Analysts Forecast Growth

PDD has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on PDD from $125.00 to $105.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Nomura Securities lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Jefferies Financial Group set a $121.00 target price on PDD and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. Finally, Citigroup raised PDD from a “neutral” rating to a “buy” rating and upped their target price for the stock from $127.00 to $165.00 in a research note on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.55.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.