SBI Securities Co. Ltd. Increases Position in PDD Holdings Inc. Sponsored ADR $PDD

SBI Securities Co. Ltd. increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,329 shares of the company’s stock after acquiring an additional 495 shares during the quarter. SBI Securities Co. Ltd.’s holdings in PDD were worth $453,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Focus Financial Network Inc. grew its position in shares of PDD by 4.3% in the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock valued at $249,000 after purchasing an additional 97 shares during the period. Gunderson Capital Management Inc. boosted its stake 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. Advisors Asset Management Inc. boosted its stake in PDD by 2.8% in the 1st quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company’s stock worth $625,000 after buying an additional 146 shares during the last quarter. Lindbrook Capital LLC grew its holdings in PDD by 11.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company’s stock valued at $228,000 after buying an additional 199 shares during the period. Finally, Westside Investment Management Inc. increased its stake in shares of PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Down 2.6%

Shares of PDD stock opened at $130.95 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The stock has a market cap of $182.30 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.59 and a beta of 0.47. The company has a fifty day moving average price of $131.80 and a 200 day moving average price of $118.19.

Analyst Upgrades and Downgrades

PDD has been the subject of a number of recent analyst reports. Macquarie set a $165.00 target price on shares of PDD and gave the company an “outperform” rating in a report on Monday, August 25th. Jefferies Financial Group set a $146.00 price objective on shares of PDD and gave the company a “buy” rating in a research note on Monday, August 25th. Bank of America upped their price objective on PDD from $120.00 to $141.00 and gave the stock a “neutral” 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, Benchmark reissued a “buy” rating and set a $160.00 price target (up previously from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, PDD currently has an average rating of “Hold” and a consensus target price of $137.82.

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.