PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,860,531 shares of the company’s stock after acquiring an additional 171,033 shares during the quarter. Bank of New York Mellon Corp’s holdings in PDD were worth $194,723,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in PDD by 5.2% in the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company’s stock valued at $4,739,595,000 after buying an additional 1,987,935 shares during the last quarter. Vanguard Group Inc. increased its holdings in PDD by 1.5% in the first quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company’s stock valued at $3,441,556,000 after buying an additional 416,867 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after buying an additional 14,110,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in PDD by 899.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock valued at $1,063,489,000 after buying an additional 8,086,620 shares during the last quarter. Finally, H&H International Investment LLC increased its holdings in PDD by 7.3% in the first quarter. H&H International Investment LLC now owns 7,753,900 shares of the company’s stock valued at $917,674,000 after buying an additional 525,200 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PDD shares. Bank of America boosted 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. New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a report on Tuesday, August 26th. Zacks Research lowered PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. 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 target price on PDD and gave the company a “buy” rating in a report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $137.82.

PDD Price Performance

PDD opened at $136.34 on Thursday. The company has a market capitalization of $189.81 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.58 and a beta of 0.47. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41. The business has a 50 day moving average price of $129.96 and a two-hundred day moving average price of $116.60.

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.