J. Safra Sarasin Holding AG Sells 58,008 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• J. Safra Sarasin Holding AG reduced its stake in PDD Holdings Inc. by 85.7%, selling 58,008 shares during the second quarter and now holds 9,693 shares valued at $1,014,000.
• Several institutional investors have increased their stakes in PDD, with notable purchases including First Affirmative Financial Network's investment of $218,000 in the first quarter.
• PDD's stock currently has a market capitalization of $186.90 billion and a consensus rating of "Hold," with an average price target of $137.82.

J. Safra Sarasin Holding AG lessened its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 85.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,693 shares of the company's stock after selling 58,008 shares during the quarter. J. Safra Sarasin Holding AG's holdings in PDD were worth $1,014,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PDD. Hollencrest Capital Management bought a new stake in PDD in the first quarter valued at about $26,000. IFP Advisors Inc increased its holdings in shares of PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after acquiring an additional 290 shares in the last quarter. Goldstream Capital Management Ltd bought a new stake in shares of PDD in the first quarter worth about $102,000. OneDigital Investment Advisors LLC bought a new stake in shares of PDD in the first quarter worth about $204,000. Finally, First Affirmative Financial Network bought a new stake in shares of PDD in the first quarter worth about $218,000. Institutional investors own 39.83% of the company's stock.

PDD Price Performance

PDD stock opened at $134.25 on Friday. The stock has a market capitalization of $186.90 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.59 and a beta of 0.40. The business has a 50-day moving average of $122.98 and a 200-day moving average of $112.56. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays increased their price target on PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. Bank of America increased their price target on PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. Weiss Ratings restated a "hold (c+)" rating on shares of PDD in a report on Saturday, September 27th. Macquarie set a $165.00 price target on PDD and gave the stock an "outperform" rating in a report on Monday, August 25th. Finally, New Street Research cut PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective for the company. in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, PDD currently has a consensus rating of "Hold" and an average price target of $137.82.

About PDD

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.

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