PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by All Stars Investment Ltd

All Stars Investment Ltd lessened its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 36.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 60,500 shares of the company’s stock after selling 34,000 shares during the period. PDD comprises about 2.1% of All Stars Investment Ltd’s holdings, making the stock its 3rd biggest position. All Stars Investment Ltd’s holdings in PDD were worth $6,332,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in PDD by 20.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock worth $6,221,000 after purchasing an additional 10,036 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in PDD by 4,562.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock worth $1,706,527,000 after purchasing an additional 14,110,042 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in PDD by 54.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock worth $3,103,000 after purchasing an additional 9,206 shares during the last quarter. Assenagon Asset Management S.A. increased its position in PDD by 53.4% during the second quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock worth $773,878,000 after purchasing an additional 2,573,065 shares during the last quarter. Finally, Banco BTG Pactual S.A. acquired a new position in PDD during the first quarter worth approximately $537,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PDD shares. Barclays upped their price target on shares of PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. New Street Research lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, August 26th. Macquarie set a $165.00 price objective on shares of PDD and gave the stock an “outperform” rating in a research report on Monday, August 25th. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price objective (up previously from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, PDD has a consensus rating of “Hold” and a consensus price target of $137.82.

PDD Stock Up 1.9%

PDD stock opened at $136.34 on Thursday. The firm has a market capitalization of $189.81 billion, a P/E ratio of 14.79, a PEG ratio of 1.58 and a beta of 0.47. The firm has a fifty day moving average of $129.96 and a 200-day moving average of $116.60. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41.

PDD Company 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.