PDD Holdings Inc. Sponsored ADR $PDD Stock Position Decreased by PDS Planning Inc

PDS Planning Inc lessened its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 9.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,507 shares of the company’s stock after selling 277 shares during the period. PDS Planning Inc’s holdings in PDD were worth $262,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in PDD by 16,268.1% in the 1st quarter. GAMMA Investing LLC now owns 7,693 shares of the company’s stock valued at $910,000 after purchasing an additional 7,646 shares during the last quarter. Farther Finance Advisors LLC lifted its position in PDD by 480.5% in the 1st quarter. Farther Finance Advisors LLC now owns 3,245 shares of the company’s stock valued at $396,000 after purchasing an additional 2,686 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in PDD in the 1st quarter valued at about $1,631,000. Dohj LLC lifted its position in PDD by 25.0% in the 1st quarter. Dohj LLC now owns 7,014 shares of the company’s stock valued at $830,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in PDD by 10.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 20,930 shares of the company’s stock valued at $2,477,000 after purchasing an additional 2,027 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays lifted their price objective 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. Benchmark restated a “buy” rating and set a $160.00 price target (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Citigroup restated a “buy” rating on shares of PDD in a research report on Monday, August 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of PDD from a “hold” rating to a “strong-buy” rating in a report on Friday, August 29th. One equities research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $137.82.

PDD Price Performance

PDD stock opened at $124.27 on Monday. The firm’s 50 day simple moving average is $124.75 and its 200-day simple moving average is $112.64. The company has a market cap of $173.00 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $145.37.

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.