21,300 Shares in PDD Holdings Inc. Sponsored ADR $PDD Acquired by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc has acquired 21,300 shares of PDD Holdings Inc. Sponsored ADR, worth approximately $2,228,000, marking a significant investment in the company during the second quarter.
• Institutional investors now own 39.83% of PDD's stock, indicating strong investor confidence, as several firms have recently increased or initiated positions in the company.
• PDD's stock has seen recent target price upgrades from analysts, with a consensus rating of "Hold" and an average target price of $137.82, reflecting optimism about its future performance.

AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,300 shares of the company's stock, valued at approximately $2,228,000.

Several other institutional investors also recently added to or reduced their stakes in PDD. Hollencrest Capital Management acquired a new position in PDD during the first quarter worth approximately $26,000. Ameritas Advisory Services LLC acquired a new position in PDD during the second quarter worth approximately $28,000. IFP Advisors Inc increased its position in PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after buying an additional 290 shares during the period. Goldstream Capital Management Ltd acquired a new position in PDD during the first quarter worth approximately $102,000. Finally, Leading Securities Co Ltd acquired a new position in PDD during the second quarter worth approximately $105,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Performance

PDD opened at $127.58 on Thursday. The business's fifty day moving average is $125.62 and its two-hundred day moving average is $112.89. The company has a market cap of $177.61 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.50 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.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent research reports. Jefferies Financial Group set a $146.00 target price on PDD and gave the company a "buy" rating in a report on Monday, August 25th. Macquarie set a $165.00 target price on PDD and gave the company an "outperform" rating in a report on Monday, August 25th. Bank of America boosted their target price on PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Citigroup reissued a "buy" rating on shares of PDD in a report on Monday, August 25th. Finally, Barclays upped their price objective on PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $137.82.

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.

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