3,782 Shares in PDD Holdings Inc. Sponsored ADR $PDD Bought by OLD Mission Capital LLC

Key Points

• OLD Mission Capital LLC has invested approximately $448,000 in PDD Holdings, acquiring 3,782 shares during the first quarter of the year.
• Institutional investors now own 39.83% of PDD's stock, indicating significant interest from large investment firms in the company.
• Analysts have varying ratings for PDD, with a consensus price target of $137.82 and overall rating classified as a "Moderate Buy."

OLD Mission Capital LLC 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 13F filing with the Securities and Exchange Commission. The fund bought 3,782 shares of the company's stock, valued at approximately $448,000.

Several other hedge funds also recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in PDD during the 1st quarter worth about $26,000. IFP Advisors Inc raised its stake 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 purchasing an additional 290 shares in the last quarter. Goldstream Capital Management Ltd bought a new stake in shares of PDD in the 1st quarter valued at about $102,000. Siemens Fonds Invest GmbH acquired a new stake in PDD in the 4th quarter valued at about $192,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in shares of PDD in the first quarter valued at approximately $204,000. 39.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup restated a "buy" rating on shares of PDD in a research note on Monday, August 25th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday, May 28th. JPMorgan Chase & Co. dropped 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. Macquarie set a $165.00 target price on shares of PDD and gave the stock an "outperform" rating in a report on Monday, August 25th. Finally, Zacks Research raised PDD from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. One 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 has a consensus rating of "Moderate Buy" and an average target price of $137.82.

PDD Stock Performance

Shares of PDD traded up $0.81 during mid-day trading on Friday, reaching $124.68. The company had a trading volume of 8,490,302 shares, compared to its average volume of 9,490,154. The company's 50 day simple moving average is $114.22 and its 200 day simple moving average is $111.24. The company has a market capitalization of $173.57 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.47 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67.

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.