Inspire Investing LLC Makes New Investment 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 acquired a new stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,940 shares of the company's stock, valued at approximately $703,000.

Several other institutional investors also recently bought and sold shares of PDD. Cetera Investment Advisers grew its position in PDD by 13.0% during the 4th quarter. Cetera Investment Advisers now owns 11,154 shares of the company's stock valued at $1,082,000 after purchasing an additional 1,280 shares during the last quarter. Quantinno Capital Management LP grew its position in PDD by 2.4% during the 4th quarter. Quantinno Capital Management LP now owns 31,151 shares of the company's stock valued at $3,021,000 after purchasing an additional 740 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in PDD during the 4th quarter valued at about $444,000. Rafferty Asset Management LLC grew its position in PDD by 9.9% during the 4th quarter. Rafferty Asset Management LLC now owns 129,148 shares of the company's stock valued at $12,526,000 after purchasing an additional 11,666 shares during the last quarter. Finally, Shell Asset Management Co. grew its position in PDD by 11.0% during the 4th quarter. Shell Asset Management Co. now owns 33,479 shares of the company's stock valued at $3,247,000 after purchasing an additional 3,307 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on PDD shares. Zacks Research raised shares of PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Macquarie set a $165.00 price target on shares of PDD and gave the company an "outperform" rating in a report on Monday, August 25th. Jefferies Financial Group set a $146.00 price target on shares of PDD and gave the company a "buy" rating in a report on Monday, August 25th. Citigroup restated a "buy" rating on shares of PDD in a research note on Monday, August 25th. Finally, Bank of America lifted their price objective on shares of PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.82.

PDD Stock Down 1.2%

PDD traded down $1.62 during trading on Thursday, hitting $133.24. 4,072,739 shares of the stock were exchanged, compared to its average volume of 9,141,017. The firm has a market capitalization of $185.49 billion, a P/E ratio of 14.46, a PEG ratio of 1.53 and a beta of 0.46. The stock has a fifty day moving average price of $117.84 and a two-hundred day moving average price of $111.66. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year 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.