Landscape Capital Management L.L.C. Acquires Shares of 7,436 PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Landscape Capital Management L.L.C. has acquired approximately 7,436 shares of PDD Holdings Inc., valued at around $880,000 during the first quarter.
• Institutional investors and hedge funds collectively own 39.83% of PDD's stock, indicating strong institutional interest.
• Wall Street analysts have a mixed outlook on PDD, with five analysts rating it as a Buy and eight as a Hold, setting an average target price of $137.82.

Landscape Capital Management L.L.C. bought a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,436 shares of the company's stock, valued at approximately $880,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hollencrest Capital Management purchased a new position in PDD in the 1st quarter valued at $26,000. IFP Advisors Inc increased its holdings in shares of PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after buying an additional 290 shares during the last quarter. Goldstream Capital Management Ltd acquired a new stake in shares of PDD during the 1st quarter worth approximately $102,000. Siemens Fonds Invest GmbH acquired a new stake in shares of PDD during the 4th quarter worth approximately $192,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in PDD in the 1st quarter valued at approximately $204,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Up 2.2%

Shares of PDD stock traded up $2.70 during trading hours on Wednesday, hitting $124.39. The company's stock had a trading volume of 7,753,292 shares, compared to its average volume of 9,103,141. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67. The business has a fifty day moving average of $113.13 and a 200 day moving average of $111.27. The company has a market capitalization of $173.17 billion, a PE ratio of 13.49, a P/E/G ratio of 1.42 and a beta of 0.46.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PDD shares. Citigroup reissued a "buy" rating on shares of PDD in a research report on Monday, August 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 target price on shares of PDD in a research report on Wednesday, May 28th. New Street Research cut PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price on the stock. in a research report on Tuesday, August 26th. Macquarie set a $165.00 price objective on shares of PDD and gave the company an "outperform" rating in a research note on Monday, August 25th. Finally, Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.