May Hill Capital LLC Has $256,000 Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

May Hill Capital LLC reduced its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 42.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,448 shares of the company’s stock after selling 1,831 shares during the period. May Hill Capital LLC’s holdings in PDD were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in PDD during the first quarter valued at approximately $26,000. Ameritas Advisory Services LLC acquired a new position in PDD during the second quarter valued at approximately $28,000. IFP Advisors Inc raised its position in PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after purchasing an additional 290 shares in the last quarter. Activest Wealth Management raised its position in PDD by 139.1% during the second quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after purchasing an additional 487 shares in the last quarter. Finally, Goldstream Capital Management Ltd acquired a new position in PDD during the first quarter valued at approximately $102,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $138.03 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $138.74. The company has a market capitalization of $192.16 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.63 and a beta of 0.40. The company has a fifty day moving average of $128.53 and a 200-day moving average of $114.82.

Analyst Ratings Changes

Several research analysts have commented on PDD shares. New Street Research downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, August 26th. Bank of America upped their price target on shares of PDD from $120.00 to $141.00 and gave the stock a “neutral” rating in a report on Tuesday, August 26th. Barclays upped their price target on shares of PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating on shares of PDD in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average target price of $137.82.

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.