H&H International Investment LLC Has $917.67 Million Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• H&H International Investment LLC increased its holdings in PDD Holdings by 7.3%, owning approximately $917.67 million in stock, which constitutes 7.6% of its investment portfolio.
• PDD Holdings has recently seen a rise in institutional investments, with 39.83% of its stock now owned by such investors.
• Analyst ratings for PDD vary, with a current average target price of $137.82, as firms like Bank of America and Benchmark have recently adjusted their target prices upward.

H&H International Investment LLC grew its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,753,900 shares of the company's stock after buying an additional 525,200 shares during the period. PDD makes up 7.6% of H&H International Investment LLC's portfolio, making the stock its 3rd biggest position. H&H International Investment LLC owned approximately 0.56% of PDD worth $917,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PDD. Hollencrest Capital Management bought a new position in shares of PDD during the 1st quarter valued at about $26,000. IFP Advisors Inc raised its holdings in PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after buying an additional 290 shares during the period. Goldstream Capital Management Ltd acquired a new stake in PDD during the 1st quarter worth approximately $102,000. Siemens Fonds Invest GmbH acquired a new stake in PDD during the 4th quarter worth approximately $192,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in PDD during the 1st quarter worth approximately $204,000. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PDD. JPMorgan Chase & Co. dropped their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the stock a "buy" rating in a report on Monday, August 25th. Barclays raised their target price on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Finally, Zacks Research upgraded shares of 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $137.82.

PDD Stock Performance

NASDAQ PDD traded up $0.81 during trading 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 company has a market capitalization of $173.57 billion, a PE ratio of 13.52, a P/E/G ratio of 1.47 and a beta of 0.46. The company's 50-day moving average price is $114.22 and its two-hundred day moving average price is $111.24. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67.

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.