Jump Financial LLC trimmed its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 40.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,222 shares of the company's stock after selling 2,153 shares during the quarter. Jump Financial LLC's holdings in PDD were worth $381,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the company. Signaturefd LLC boosted its position in PDD by 1.3% during the first quarter. Signaturefd LLC now owns 8,957 shares of the company's stock worth $1,060,000 after purchasing an additional 119 shares in the last quarter. Focus Financial Network Inc. boosted its position in PDD by 6.3% during the first quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock worth $270,000 after purchasing an additional 136 shares in the last quarter. Lindbrook Capital LLC boosted its position in PDD by 11.5% during the first quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock worth $228,000 after purchasing an additional 199 shares in the last quarter. Hollencrest Capital Management purchased a new stake in PDD during the first quarter worth $26,000. Finally, AE Wealth Management LLC boosted its position in PDD by 3.8% during the first quarter. AE Wealth Management LLC now owns 6,209 shares of the company's stock worth $735,000 after purchasing an additional 229 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Benchmark reissued a "buy" rating and issued a $160.00 price target (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. Bank of America boosted 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. JPMorgan Chase & Co. cut their price target on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. New Street Research cut PDD from a "buy" rating to a "neutral" rating and set a $120.00 price target for the company. in a report on Tuesday, August 26th. Finally, Jefferies Financial Group set a $146.00 price target on PDD and gave the stock a "buy" rating in a report on Monday, August 25th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, PDD currently has a consensus rating of "Hold" and a consensus price target of $137.82.
Read Our Latest Report on PDD
PDD Stock Up 1.2%
Shares of NASDAQ PDD opened at $121.69 on Wednesday. The stock's 50 day moving average price is $113.13 and its two-hundred day moving average price is $111.27. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $155.67. The stock has a market capitalization of $169.41 billion, a P/E ratio of 13.20, a PEG ratio of 1.42 and a beta of 0.46.
PDD Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider PDD, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PDD wasn't on the list.
While PDD currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
