J. Safra Sarasin Holding AG Has $1.01 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

J. Safra Sarasin Holding AG cut its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 85.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,693 shares of the company’s stock after selling 58,008 shares during the period. J. Safra Sarasin Holding AG’s holdings in PDD were worth $1,014,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management acquired a new stake in shares of PDD in the first quarter valued at approximately $26,000. IFP Advisors Inc increased its stake in shares of PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after purchasing an additional 290 shares during the period. Goldstream Capital Management Ltd bought a new position in shares of PDD during the first quarter worth approximately $102,000. OneDigital Investment Advisors LLC bought a new position in shares of PDD during the first quarter worth approximately $204,000. Finally, First Affirmative Financial Network bought a new position in PDD during the 1st quarter worth $218,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, August 26th. Citigroup reiterated a “buy” rating on shares of PDD in a research note on Monday, August 25th. Benchmark reiterated a “buy” rating and issued a $160.00 price target (up previously from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Bank of America raised their price objective on PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a report on Tuesday, August 26th. Finally, Zacks Research raised PDD from a “hold” rating to a “strong-buy” rating in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average target price of $137.82.

PDD Trading Down 0.7%

Shares of PDD opened at $134.25 on Friday. The company has a market capitalization of $186.90 billion, a PE ratio of 14.56, a PEG ratio of 1.59 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The stock’s 50-day moving average price is $122.98 and its two-hundred day moving average price is $112.56.

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.