Banque Transatlantique SA Acquires New Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Banque Transatlantique SA acquired 2,235 shares of PDD Holdings Inc., valued at approximately $244,000, indicating institutional interest in the stock during the 1st quarter.
• Multiple research firms have issued a range of ratings, with Jefferies setting a price target of $146.00 and Benchmark raising its target to $160.00, reflecting a generally positive outlook on the stock.
• PDD Holdings has a market cap of $172.45 billion, with current trading around $123.87, showing a significant range in its 1-year performance, from a low of $87.11 to a high of $155.67.

Banque Transatlantique SA acquired a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,235 shares of the company's stock, valued at approximately $244,000.

Other hedge funds also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC raised its position in PDD by 78.3% in the first quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock valued at $596,057,000 after purchasing an additional 2,211,286 shares during the period. Myriad Asset Management US LP purchased a new position in PDD in the first quarter valued at about $4,496,000. OVERSEA CHINESE BANKING Corp Ltd raised its position in PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares during the period. Banco BTG Pactual S.A. purchased a new position in PDD in the first quarter valued at about $537,000. Finally, WCM Investment Management LLC raised its position in PDD by 3,127.3% in the first quarter. WCM Investment Management LLC now owns 411,324 shares of the company's stock valued at $49,544,000 after purchasing an additional 398,579 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of NASDAQ PDD traded up $0.81 during midday trading on Friday, reaching $124.68. 8,490,302 shares of the company's stock were exchanged, compared to its average volume of 9,698,484. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $155.67. The stock has a market capitalization of $173.57 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46. The business's fifty day moving average price is $114.22 and its two-hundred day moving average price is $111.24.

Analysts Set New Price Targets

Several research firms have commented on PDD. Jefferies Financial Group set a $146.00 price objective on PDD and gave the company a "buy" rating in a research report on Monday, August 25th. Barclays lifted their target price on PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating on shares of PDD in a research report on Monday, August 25th. Bank of America lifted their target price on PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Finally, Macquarie set a $165.00 target price on PDD and gave the stock 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 given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.