Inspire Investing LLC Buys New Stake in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Inspire Investing LLC made a new investment of $703,000 in PDD Holdings Inc. during the first quarter, acquiring 5,940 shares of stock.
• Research analysts have generally given PDD a Moderate Buy rating, with several analysts raising their price targets, including Benchmark, which set a target of $160.00.
• PDD stock has a market capitalization of $174.63 billion with a current trading price around $125.44, reflecting a slight decline of 0.2%.

Inspire Investing LLC purchased a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,940 shares of the company's stock, valued at approximately $703,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in shares of PDD by 1.3% during the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company's stock valued at $1,060,000 after acquiring an additional 119 shares during the last quarter. Focus Financial Network Inc. boosted its holdings in shares of PDD by 6.3% during the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock valued at $270,000 after acquiring an additional 136 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of PDD by 2.8% during the 1st quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock valued at $625,000 after acquiring an additional 146 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in shares of PDD by 11.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock valued at $228,000 after acquiring an additional 199 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new stake in shares of PDD during the 1st quarter valued at about $26,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Performance

PDD traded up $1.95 during trading on Monday, reaching $127.39. 12,326,244 shares of the company traded hands, compared to its average volume of 9,884,136. PDD Holdings Inc. Sponsored ADR has a 12-month low of $87.11 and a 12-month high of $155.67. The firm has a fifty day simple moving average of $116.79 and a 200 day simple moving average of $111.37. The company has a market cap of $177.35 billion, a P/E ratio of 13.82, a PEG ratio of 1.48 and a beta of 0.46.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PDD shares. Citigroup reaffirmed a "buy" rating on shares of PDD in a report on Monday, August 25th. Benchmark reiterated a "buy" rating and issued a $160.00 price objective (up previously from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Macquarie set a $165.00 price objective on shares of PDD and gave the stock an "outperform" rating in a research note on Monday, August 25th. New Street Research cut shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research note on Tuesday, August 26th. Finally, China Renaissance reiterated a "hold" rating and issued a $107.00 price objective on shares of PDD in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and an average target price of $137.82.

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.