PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 408,010 shares of the company’s stock after selling 646 shares during the period. DekaBank Deutsche Girozentrale’s holdings in PDD were worth $42,532,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of PDD in the 1st quarter valued at $26,000. Ameritas Advisory Services LLC purchased a new stake in PDD during the 2nd quarter valued at about $28,000. IFP Advisors Inc increased its holdings in shares of PDD by 245.8% in the first 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 period. Activest Wealth Management raised its stake in shares of PDD by 139.1% in the second quarter. Activest Wealth Management now owns 837 shares of the company’s stock worth $88,000 after purchasing an additional 487 shares during the last quarter. Finally, Goldstream Capital Management Ltd acquired a new stake in shares of PDD during the first quarter worth about $102,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PDD shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a report on Tuesday, August 26th. Zacks Research raised shares of PDD from a “hold” rating to a “strong-buy” rating in a report on Friday, August 29th. Citigroup restated a “buy” rating on shares of PDD in a research report on Monday, August 25th. Finally, Macquarie set a $165.00 price target on shares of PDD and gave the company an “outperform” rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $137.82.

PDD Stock Performance

PDD stock opened at $130.71 on Wednesday. The firm’s fifty day moving average is $126.83 and its 200 day moving average is $113.26. The firm has a market cap of $181.97 billion, a PE ratio of 14.18, a P/E/G ratio of 1.55 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 $136.84.

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.