DRW Securities LLC Makes New $318,000 Investment in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• DRW Securities LLC acquired 2,684 shares of PDD Holdings Inc., representing an investment of approximately $318,000.
• Mirae Asset Global Investments significantly increased its stake in PDD, lifting its holdings by an astonishing 9,469.7%, now owning nearly 39.7 million shares valued at about $4.7 billion.
• Analysts have mixed forecasts for PDD with price targets ranging from $112.00 to $165.00, and the consensus rating stands at "Hold" with a target price of $137.82.

DRW Securities LLC bought a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,684 shares of the company's stock, valued at approximately $318,000.

Other institutional investors also recently modified their holdings of the company. Bayesian Capital Management LP bought a new stake in PDD during the fourth quarter worth about $394,000. Cat Rock Capital Management LP lifted its position in PDD by 19.2% during the fourth quarter. Cat Rock Capital Management LP now owns 822,714 shares of the company's stock worth $79,795,000 after purchasing an additional 132,555 shares during the period. Cantor Fitzgerald L. P. bought a new stake in PDD during the fourth quarter worth about $437,000. Cetera Investment Advisers lifted its position in PDD by 13.0% during the fourth quarter. Cetera Investment Advisers now owns 11,154 shares of the company's stock worth $1,082,000 after purchasing an additional 1,280 shares during the period. Finally, Dragoneer Investment Group LLC lifted its position in PDD by 48.8% during the fourth quarter. Dragoneer Investment Group LLC now owns 5,572,094 shares of the company's stock worth $540,437,000 after purchasing an additional 1,827,853 shares during the period. Institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PDD shares. Macquarie set a $165.00 price objective on shares of PDD and gave the stock an "outperform" rating in a research report on Monday, August 25th. New Street Research cut shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective for the company. in a research report on Tuesday, August 26th. Citigroup reissued a "buy" rating on shares of PDD in a research note on Monday, August 25th. Zacks Research raised PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 target price on shares of PDD in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.82.

PDD Stock Performance

Shares of PDD stock traded up $0.81 on Friday, hitting $124.68. The stock had a trading volume of 8,490,302 shares, compared to its average volume of 9,490,154. The stock has a 50 day moving average of $114.22 and a 200 day moving average of $111.33. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The firm has a market capitalization of $173.57 billion, a P/E ratio of 13.52, a PEG ratio of 1.46 and a beta of 0.46.

PDD 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.