PDD Holdings Inc. Sponsored ADR $PDD Stake Increased by Panview Capital Ltd

Panview Capital Ltd increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 44.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231,700 shares of the company’s stock after acquiring an additional 71,000 shares during the period. PDD comprises approximately 7.7% of Panview Capital Ltd’s portfolio, making the stock its 6th largest position. Panview Capital Ltd’s holdings in PDD were worth $24,250,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. boosted its holdings in shares of PDD by 4.3% in the 2nd quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock worth $249,000 after purchasing an additional 97 shares in the last quarter. Gunderson Capital Management Inc. lifted its position in PDD by 5.5% in the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock worth $203,000 after buying an additional 101 shares during the last quarter. Signaturefd LLC boosted its stake in PDD by 1.3% in the first quarter. Signaturefd LLC now owns 8,957 shares of the company’s stock worth $1,060,000 after buying an additional 119 shares in the last quarter. Advisors Asset Management Inc. grew its position in PDD by 2.8% during the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company’s stock valued at $625,000 after acquiring an additional 146 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in PDD by 11.5% during the first quarter. Lindbrook Capital LLC now owns 1,930 shares of the company’s stock valued at $228,000 after acquiring an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PDD shares. Benchmark restated a “buy” rating and issued a $160.00 price objective (up from $128.00) on shares of PDD 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 company an “overweight” rating in a research report on Tuesday, August 26th. Citigroup reiterated a “buy” rating on shares of PDD in a report on Monday, August 25th. Macquarie set a $165.00 target price on PDD and gave the company an “outperform” rating in a report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.82.

PDD Price Performance

Shares of NASDAQ:PDD opened at $135.78 on Friday. The stock’s 50-day moving average is $130.56 and its 200 day moving average is $117.02. The company has a market cap of $189.03 billion, a PE ratio of 14.73, a P/E/G ratio of 1.62 and a beta of 0.47. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41.

About PDD

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.