Mackenzie Financial Corp Has $37.80 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Mackenzie Financial Corp increased its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,154 shares of the company’s stock after purchasing an additional 17,078 shares during the quarter. Mackenzie Financial Corp’s holdings in PDD were worth $37,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. lifted its stake in PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after buying an additional 199 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of PDD during the second quarter valued at approximately $28,000. EMC Capital Management acquired a new stake in shares of PDD during the second quarter valued at approximately $52,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of PDD in the 2nd quarter valued at approximately $56,000. Finally, Activest Wealth Management boosted its stake in PDD by 139.1% in the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock worth $88,000 after purchasing an additional 487 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the company a “buy” rating in a research note on Monday, August 25th. Sanford C. Bernstein set a $135.00 price target on PDD in a report on Tuesday, November 18th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Macquarie set a $165.00 target price on PDD and gave the company an “outperform” rating in a report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $137.50.

PDD Price Performance

Shares of NASDAQ PDD opened at $116.13 on Monday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The business’s 50-day moving average price is $129.55 and its two-hundred day moving average price is $118.69. The company has a market capitalization of $161.68 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.08.

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.