Sava Infond d.o.o. Cuts Position in PDD Holdings Inc. Sponsored ADR $PDD

Sava Infond d.o.o. cut its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 16.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,100 shares of the company’s stock after selling 1,200 shares during the period. Sava Infond d.o.o.’s holdings in PDD were worth $638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC purchased a new position in PDD in the second quarter worth $28,000. Union Bancaire Privee UBP SA grew its position in PDD by 20.8% in the second quarter. Union Bancaire Privee UBP SA now owns 56,727 shares of the company’s stock worth $5,403,000 after acquiring an additional 9,751 shares in the last quarter. TB Alternative Assets Ltd. grew its position in PDD by 6.5% in the second quarter. TB Alternative Assets Ltd. now owns 212,888 shares of the company’s stock worth $22,281,000 after acquiring an additional 13,001 shares in the last quarter. Yarbrough Capital LLC grew its position in PDD by 41.1% in the second quarter. Yarbrough Capital LLC now owns 60,489 shares of the company’s stock worth $6,331,000 after acquiring an additional 17,608 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in PDD during the second quarter valued at about $237,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Trading Down 0.7%

PDD stock opened at $134.25 on Friday. The firm has a 50-day moving average of $122.98 and a 200-day moving average of $112.65. The firm has a market cap of $186.90 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.60 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PDD shares. Jefferies Financial Group set a $146.00 price target on shares of PDD and gave the company a “buy” rating in a research report on Monday, August 25th. Bank of America upped their price target on shares of PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Barclays upped their price target 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. Macquarie set a $165.00 price target on shares of PDD and gave the company an “outperform” rating in a research report on Monday, August 25th. Finally, Zacks Research upgraded shares of PDD from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average 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.