MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,954 shares of the company's stock after buying an additional 36,862 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in PDD were worth $77,869,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in PDD in the first quarter valued at approximately $26,000. IFP Advisors Inc grew its stake 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 purchasing an additional 290 shares during the last quarter. Goldstream Capital Management Ltd acquired a new stake in PDD in the first quarter valued at $102,000. OneDigital Investment Advisors LLC bought a new position in PDD during the 1st quarter worth $204,000. Finally, Gunderson Capital Management Inc. acquired a new stake in shares of PDD in the first quarter valued at about $218,000. Institutional investors and hedge funds own 39.83% of the company's stock.
PDD Trading Up 0.7%
PDD opened at $124.68 on Friday. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67. The company has a market cap of $173.57 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.46 and a beta of 0.46. The company has a fifty day moving average price of $114.22 and a two-hundred day moving average price of $111.33.
Analyst Upgrades and Downgrades
Several analysts recently commented on PDD shares. Citigroup reiterated a "buy" rating on shares of PDD in a report on Monday, August 25th. China Renaissance restated a "hold" rating and issued a $107.00 target price on shares of PDD in a report on Wednesday, May 28th. Benchmark restated a "buy" rating and issued a $160.00 target price (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Finally, Bank of America boosted their target price on shares of PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.82.
View Our Latest Research Report on PDD
PDD Company 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.
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