PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Hhlr Advisors LTD.

Key Points

• Hhlr Advisors LTD. has increased its stake in PDD Holdings Inc. by 140.4%, now holding over 6.5 million shares, which constitutes about 22.5% of its investment portfolio.
• Several other hedge funds have also made movements in PDD, with IFP Advisors Inc. increasing its holdings by 245.8% during the same period.
• PDD has received mixed analyst ratings, with five analysts rating the stock as a buy and the average price target set at $137.82.

Hhlr Advisors LTD. lifted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 140.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,562,576 shares of the company's stock after acquiring an additional 3,832,301 shares during the period. PDD makes up about 22.5% of Hhlr Advisors LTD.'s investment portfolio, making the stock its biggest position. Hhlr Advisors LTD. owned 0.48% of PDD worth $776,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Krane Funds Advisors LLC lifted its holdings in shares of PDD by 78.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after acquiring an additional 2,211,286 shares during the period. Myriad Asset Management US LP bought a new position in shares of PDD during the 1st quarter worth about $4,496,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after acquiring an additional 14,110,042 shares during the period. Banco BTG Pactual S.A. bought a new position in shares of PDD during the 1st quarter worth about $537,000. Finally, WCM Investment Management LLC lifted its holdings in shares of PDD by 3,127.3% during the 1st quarter. WCM Investment Management LLC now owns 411,324 shares of the company's stock worth $49,544,000 after acquiring an additional 398,579 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Trading Up 2.2%

Shares of PDD stock traded up $2.70 during mid-day trading on Wednesday, reaching $124.39. 7,753,292 shares of the stock were exchanged, compared to its average volume of 8,936,177. The company has a market cap of $173.17 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46. The firm has a 50-day simple moving average of $113.47 and a 200 day simple moving average of $111.36. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

Analyst Ratings Changes

A number of equities analysts have recently commented on PDD shares. Bank of America raised their price objective on shares of PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating on shares of PDD in a report on Monday, August 25th. Benchmark reiterated a "buy" rating and set a $160.00 target price (up previously from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Macquarie set a $165.00 target price on shares of PDD and gave the stock an "outperform" rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and an average price target 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.