PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,905 shares of the company’s stock after purchasing an additional 700 shares during the quarter. International Assets Investment Management LLC’s holdings in PDD were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of PDD during the 2nd quarter worth approximately $3,935,000. Activest Wealth Management increased its position in PDD by 139.1% in the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after acquiring an additional 487 shares during the period. Aware Super Pty Ltd as trustee of Aware Super increased its position in PDD by 3.0% in the 2nd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 73,243 shares of the company’s stock valued at $7,666,000 after acquiring an additional 2,139 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in PDD in the 2nd quarter valued at approximately $2,228,000. Finally, Leading Securities Co Ltd acquired a new stake in PDD in the 2nd quarter valued at approximately $105,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PDD. Benchmark restated a “buy” rating and issued a $160.00 target price (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. New Street Research cut PDD from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, August 26th. Jefferies Financial Group set a $146.00 target price on PDD and gave the company a “buy” rating in a research report on Monday, August 25th. Citigroup restated a “buy” rating on shares of PDD in a research report on Monday, August 25th. Finally, Zacks Research upgraded PDD from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PDD presently has an average rating of “Hold” and a consensus price target of $137.82.

PDD Stock Performance

Shares of PDD stock opened at $130.06 on Thursday. The stock has a market cap of $181.06 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.54 and a beta of 0.40. The business’s fifty day moving average is $127.09 and its 200-day moving average is $113.38. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $136.84.

PDD 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.