PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PDD Holdings Inc. by 5.9%, owning 657,954 shares valued at approximately $77.87 million at the end of the first quarter.
• Analysts have mixed ratings for PDD, with one strong buy, five buys, and eight holds, while the stock has an average price target of $137.82.
• PDD Holdings Inc. operates e-commerce platforms such as Pinduoduo and Temu, offering a wide range of consumer products.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,954 shares of the company's stock after purchasing an additional 36,862 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in PDD were worth $77,869,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Krane Funds Advisors LLC boosted its stake in PDD by 78.3% in the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock valued at $596,057,000 after buying an additional 2,211,286 shares in the last quarter. Myriad Asset Management US LP acquired a new position in shares of PDD during the first quarter worth about $4,496,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in PDD by 4,562.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after purchasing an additional 14,110,042 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of PDD by 54.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company's stock worth $3,103,000 after purchasing an additional 9,206 shares during the period. Finally, Banco BTG Pactual S.A. bought a new position in PDD during the 1st quarter worth $537,000. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

PDD stock traded up $2.13 during midday trading on Thursday, reaching $126.81. The company had a trading volume of 6,769,216 shares, compared to its average volume of 9,055,097. 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 capitalization of $176.54 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.49 and a beta of 0.46. The firm has a 50-day moving average price of $115.46 and a 200-day moving average price of $111.30.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research raised PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Citigroup reissued a "buy" rating on shares of PDD in a report on Monday, August 25th. JPMorgan Chase & Co. dropped their price objective on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. China Renaissance reaffirmed a "hold" rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Finally, 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 note 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average target price of $137.82.

PDD Company 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.