SSA Swiss Advisors AG Acquires Shares of 27,445 PDD Holdings Inc. Sponsored ADR $PDD

SSA Swiss Advisors AG acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 27,445 shares of the company’s stock, valued at approximately $2,872,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its stake in PDD by 15.2% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,495 shares of the company’s stock valued at $261,000 after buying an additional 330 shares during the period. International Assets Investment Management LLC grew its position in PDD by 31.7% in the second quarter. International Assets Investment Management LLC now owns 2,905 shares of the company’s stock worth $304,000 after acquiring an additional 700 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in PDD in the second quarter worth approximately $3,935,000. Activest Wealth Management grew its position in PDD by 139.1% in the second quarter. Activest Wealth Management now owns 837 shares of the company’s stock worth $88,000 after acquiring an additional 487 shares in the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super grew its position in PDD by 3.0% in the second quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 73,243 shares of the company’s stock worth $7,666,000 after acquiring an additional 2,139 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $133.96 on Friday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $136.84. The firm has a fifty day moving average price of $127.77 and a two-hundred day moving average price of $113.89. The company has a market cap of $186.49 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.58 and a beta of 0.40.

Analyst Upgrades and Downgrades

PDD has been the subject of several recent research reports. Benchmark reissued a “buy” rating and issued a $160.00 target price (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Citigroup reissued a “buy” rating on shares of PDD in a research report on Monday, August 25th. 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 report on Tuesday, August 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $146.00 price objective on shares of PDD and gave the stock a “buy” rating in a report on Monday, August 25th. One equities research 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 currently has a consensus rating of “Hold” and an average target price of $137.82.

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.