PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 16,268.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,693 shares of the company's stock after buying an additional 7,646 shares during the period. GAMMA Investing LLC's holdings in PDD were worth $910,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PDD. Fairtree Asset Management Pty Ltd acquired a new position in shares of PDD during the fourth quarter worth $5,531,000. California State Teachers Retirement System grew its holdings in shares of PDD by 7.1% during the fourth quarter. California State Teachers Retirement System now owns 324,354 shares of the company's stock worth $31,459,000 after purchasing an additional 21,507 shares during the last quarter. 111 Capital purchased a new position in shares of PDD during the fourth quarter worth about $508,000. Wealthedge Investment Advisors LLC purchased a new position in shares of PDD during the fourth quarter worth about $666,000. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of PDD during the fourth quarter worth about $192,000. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Stock Performance

PDD traded down $0.28 during trading on Wednesday, reaching $102.25. The company's stock had a trading volume of 4,368,942 shares, compared to its average volume of 10,041,355. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $155.67. The company's fifty day moving average price is $104.60 and its 200-day moving average price is $108.30. The company has a market capitalization of $142.35 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 1.45 and a beta of 0.42.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PDD. JPMorgan Chase & Co. dropped their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Macquarie reaffirmed an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, Nomura reissued a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.

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.