PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 282,634 shares of the company’s stock after buying an additional 1,083 shares during the quarter. PDD accounts for approximately 28.5% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in PDD were worth $29,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PDD. Hollencrest Capital Management bought a new position in shares of PDD during the 1st quarter worth approximately $26,000. Ameritas Advisory Services LLC purchased a new stake in PDD in the 2nd quarter valued at $28,000. IFP Advisors Inc increased its position in shares of PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after purchasing an additional 290 shares during the last quarter. Goldstream Capital Management Ltd purchased a new stake in shares of PDD during the 1st quarter valued at $102,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in PDD in the 1st quarter worth about $204,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $133.77 on Thursday. The business’s 50 day simple moving average is $124.11 and its two-hundred day simple moving average is $112.78. The stock has a market capitalization of $186.23 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 1.58 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $145.37.

Analyst Ratings Changes

PDD has been the subject of several analyst reports. Barclays raised their target price on PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a research report on Wednesday. Bank of America lifted their price target on PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Benchmark reiterated a “buy” rating and set a $160.00 price target (up previously from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Finally, Macquarie set a $165.00 price target on PDD and gave the company an “outperform” rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $137.82.

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.