Aberdeen Group plc Purchases 28,033 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Aberdeen Group plc increased its stake in PDD Holdings Inc. by 2.2%, acquiring an additional 28,033 shares, bringing its total ownership to over 1.27 million shares worth approximately $133.5 million.
• PDD Holdings has seen a range of target price adjustments from various analysts, with Bank of America raising their target to $141.00 and Benchmark setting a target at $160.00, while the stock has an average consensus price target of $137.82.
• The company's stock has a P/E ratio of 13.48 and a market capitalization of approximately $173 billion, with a notable year-to-date price range between $87.11 and $145.37.

Aberdeen Group plc boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,278,666 shares of the company's stock after acquiring an additional 28,033 shares during the period. Aberdeen Group plc owned 0.09% of PDD worth $133,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in PDD in the first quarter worth approximately $26,000. Ameritas Advisory Services LLC bought a new position in PDD in the second quarter worth approximately $28,000. IFP Advisors Inc boosted its holdings in PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after acquiring an additional 290 shares in the last quarter. Goldstream Capital Management Ltd bought a new position in PDD in the first quarter worth approximately $102,000. Finally, Valeo Financial Advisors LLC bought a new position in PDD in the second quarter worth approximately $136,000. Institutional investors own 39.83% of the company's stock.

PDD Price Performance

PDD stock opened at $124.27 on Friday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $145.37. The business has a fifty day moving average price of $124.75 and a 200-day moving average price of $112.79. The firm has a market capitalization of $173.00 billion, a P/E ratio of 13.48, a PEG ratio of 1.55 and a beta of 0.40.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent research reports. Bank of America raised 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. 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. Benchmark restated a "buy" rating and issued a $160.00 target price (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Zacks Research upgraded PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Finally, New Street Research lowered PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price on the stock. in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $137.82.

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.

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