Guggenheim Capital LLC Acquires 36,817 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Guggenheim Capital LLC boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 30.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,713 shares of the company’s stock after acquiring an additional 36,817 shares during the quarter. Guggenheim Capital LLC’s holdings in PDD were worth $16,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westside Investment Management Inc. lifted its position in shares of PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in PDD in the 2nd quarter worth about $28,000. EMC Capital Management bought a new stake in PDD during the 2nd quarter valued at about $52,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in PDD in the 2nd quarter valued at about $56,000. Finally, Activest Wealth Management grew its stake in PDD by 139.1% in the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock worth $88,000 after acquiring an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Benchmark reiterated a “buy” rating and issued a $160.00 target price (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. New Street Research downgraded PDD from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Tuesday, August 26th. Finally, Macquarie set a $165.00 price objective on PDD and gave the company an “outperform” rating in a report on Monday, August 25th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.50.

PDD Stock Down 0.3%

PDD stock opened at $116.82 on Friday. The firm has a market cap of $162.63 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.39 and a beta of 0.07. The business has a fifty day moving average of $128.59 and a two-hundred day moving average of $118.68. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41.

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.