PDD Holdings Inc. Sponsored ADR $PDD Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 181.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,108 shares of the company’s stock after purchasing an additional 6,515 shares during the period. International Assets Investment Management LLC’s holdings in PDD were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PDD. Nykredit A S acquired a new stake in shares of PDD in the 2nd quarter worth $10,042,000. Public Employees Retirement System of Ohio acquired a new position in shares of PDD during the 2nd quarter valued at about $9,491,000. Quantitative Investment Management LLC acquired a new position in shares of PDD during the 2nd quarter valued at about $2,599,000. Wasatch Advisors LP purchased a new stake in shares of PDD in the second quarter valued at about $3,658,000. Finally, NEOS Investment Management LLC increased its position in PDD by 10.7% during the second quarter. NEOS Investment Management LLC now owns 404,232 shares of the company’s stock worth $30,835,000 after purchasing an additional 38,930 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

PDD stock opened at $82.15 on Thursday. The company’s 50 day simple moving average is $79.91 and its 200-day simple moving average is $90.76. The company has a market capitalization of $116.93 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 0.63 and a beta of -0.03. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.12.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Friday, August 14th. The company reported $2.84 EPS for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The firm had revenue of $16.54 billion for the quarter. Equities analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PDD. Arete Research lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a report on Monday, September 7th. Zacks Research upgraded shares of PDD from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft upgraded PDD from a “hold” rating to a “buy” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. lowered their price objective on PDD from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, September 10th. Finally, Weiss Ratings raised PDD from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, October 27th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $110.31.

About PDD

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.