Edmond DE Rothschild Holding S.A. Buys 9,206 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in PDD Holdings by 54.1%, now holding a total of 26,216 shares valued at approximately $3.1 million.
• Other institutional investors have also shown interest, with several buying positions in PDD, bringing total institutional ownership to 39.83%.
• Analysts maintain a Moderate Buy consensus for PDD, with price targets ranging from $107.00 to $165.00.

Edmond DE Rothschild Holding S.A. grew its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 54.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,216 shares of the company's stock after purchasing an additional 9,206 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in PDD were worth $3,103,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of PDD in the first quarter valued at approximately $26,000. IFP Advisors Inc lifted its holdings in shares of PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after purchasing an additional 290 shares in the last quarter. Goldstream Capital Management Ltd bought a new position in shares of PDD in the first quarter valued at approximately $102,000. OneDigital Investment Advisors LLC bought a new position in shares of PDD in the first quarter valued at approximately $204,000. Finally, Gunderson Capital Management Inc. bought a new position in shares of PDD in the first quarter valued at approximately $218,000. Institutional investors own 39.83% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PDD. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Macquarie set a $165.00 price target on PDD and gave the stock an "outperform" rating in a report on Monday, August 25th. Benchmark reiterated a "buy" rating and set a $160.00 price target (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. China Renaissance reiterated a "hold" rating and set a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Finally, Jefferies Financial Group set a $146.00 price target on PDD and gave the stock a "buy" rating in a report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $137.82.

PDD Trading Down 0.4%

Shares of PDD stock opened at $123.87 on Friday. The firm has a market capitalization of $172.45 billion, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 1.47 and a beta of 0.46. The business's fifty day simple moving average is $113.83 and its 200 day simple moving average is $111.36. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67.

About PDD

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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