PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in PDD Holdings Inc. by 16.0%, now owning 26,091 shares valued at approximately $3.09 million.
• Other institutional investors significantly increased their holdings, with Mirae Asset Global Investments boosting their stake by 9,469.7%, now owning approximately 39.68 million shares worth about $4.69 billion.
• The current consensus rating for PDD stock is a Moderate Buy, with a target price averaging $137.82 across multiple analysts.

Federation des caisses Desjardins du Quebec cut its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 16.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,091 shares of the company's stock after selling 4,975 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in PDD were worth $3,089,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PDD. Cetera Investment Advisers boosted its stake in shares of PDD by 13.0% in the fourth quarter. Cetera Investment Advisers now owns 11,154 shares of the company's stock valued at $1,082,000 after buying an additional 1,280 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in PDD by 12.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 66,400 shares of the company's stock worth $6,440,000 after purchasing an additional 7,250 shares during the last quarter. Ground Swell Capital LLC raised its holdings in PDD by 54.0% during the fourth quarter. Ground Swell Capital LLC now owns 2,764 shares of the company's stock worth $268,000 after purchasing an additional 969 shares during the last quarter. Janus Henderson Group PLC raised its holdings in PDD by 357.3% during the fourth quarter. Janus Henderson Group PLC now owns 455,266 shares of the company's stock worth $44,157,000 after purchasing an additional 355,712 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PDD by 13.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 621,092 shares of the company's stock worth $60,240,000 after purchasing an additional 72,674 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Up 0.3%

Shares of NASDAQ PDD traded up $0.35 on Monday, hitting $125.03. The company had a trading volume of 6,780,481 shares, compared to its average volume of 9,698,484. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67. The business has a 50 day moving average of $114.63 and a two-hundred day moving average of $111.11. The firm has a market capitalization of $174.06 billion, a P/E ratio of 13.56, a PEG ratio of 1.47 and a beta of 0.46.

Analyst Ratings Changes

PDD has been the subject of a number of analyst reports. 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. New Street Research cut PDD from a "buy" rating to a "neutral" rating and set a $120.00 price target for the company. in a report on Tuesday, August 26th. JPMorgan Chase & Co. cut their price target on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Benchmark reissued a "buy" rating and issued a $160.00 price target (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. Finally, Zacks Research raised PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" 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.